Financial Literacy Courses

768 Words2 Pages
bulb-icon

Recommended: Essay about financial literacy classes

Financial illiteracy is a major dilemma in today’s society and is affecting young adults’ everyday lives. Personal finances are not taught to many students in school today, therefore it is more difficult to solve financial problems when they arise. Financial literacy courses are fundamental in helping high school students learn how to make wise decisions with their money; however, the courses need to be made available to younger audiences and their effectiveness needs to be improved.
Financial literacy courses allow students to become prepared for their futures as independent adults. Professor Gutter’s research suggested that “College students … from states where there was a course required were more likely to budget … and were more likely to …show more content…

For example, Professor Lauren Willis argues about “high school students who took a semester-long personal-finance course and tested worse than those who didn't” to illustrate that the course is detrimental to students (Burns). However, Willis’ claim is not valid because her evidence does not represent the majority of the students and does not consider the other factors for the worse scores of the course participants. The course has helped many individuals by emphasizing the importance of finances. For instance, a student exclaimed that “I also learned that good budgeting has to be maintained throughout a person's life no matter the income, no matter the living conditions” (Bernard). The courses are beneficial, even though, there are improvements to be made to them. They open the eyes of the students and teach critical skills to deal with finances, that are essential in the future. The benefits of the financial literacy courses may be small now, but as improvements are made, it will improve the abilities of students to take care and understand their

Show More
Related

  • Financial Literacy In With The Three R's Analysis

    716 Words  | 2 Pages

    Taking a financial literacy class would help students learn how to stay out of debt. According to the article, “Finance Course Prompts Debate” by Gina Davis, the class would “cover concepts such as money management, consumer rights, and responsibilities,

    Read More

  • The Importance Of Organizational Financial Literacy

    734 Words  | 2 Pages

    There are also other external economic factors that would have an impact to an entity, but having financial preparedness would enable the entity to cope with the situation. Being financially literate, even under different economic factors, would allow for more options in taking certain courses of action appropriate for the situation. The organizational financial literacy, having been gained, would also reflect the entity's capabilities, strength and competitiveness. This having sufficient financial literacy would aid the organization in keeping up with the economic

    Read More

  • The Three Most Important Things I Learned in This Course

    1846 Words  | 4 Pages

    The course that I took this term on money and banking was of great value to me. It taught me some very important things. One of the most important things that I learned in this course was that the Federal Reserve is the best resource for information concerning the economy. Another important thing that I learned was that interest rates mean different things to different people. A third very important thing that I learned was how a financial crisis can start in the United States.

    Read More

  • College Is Worth It Or Not?

    1523 Words  | 4 Pages

    Although a college education grows more and more expensive every year. People begin to question whether college is a good idea to invest in or not. “As college costs continue to rise, students and their families are looking more carefully at what they are getting for their money. Increasingly, they are finding that the college experience falls short of their expectations”(Cooper. H Mary). Many people believe that the cost of a college degree has outstripped the value of a degree.Studies show that a college degree will increase your earning power. A lot of people say that a college degree now is worth what a high school diploma was wor...

    Read More

  • College Is A Waste Of Time And Money Analysis

    707 Words  | 2 Pages

    Bird argues that students should not risk being in debt for the rest of their lives, while Wilson claims that many students graduate with a reasonable amount of debt, therefore going to college ultimately will benefit them. In Bird’s essay, she explains that going to college and graduating with a lot of debt does not always benefit students because jobs in certain fields are scarce, like psychology. College graduates thus do not always get the job they prepared for, instead “most of them wind up doing what there is to do” (Bird 378). Bird refutes the idea that going to college leads to better job opportunities by claiming that the job market is “shrinking” causing a lack of jobs for college graduates entering certain fields. On the contrary, Wilson states that “debt is the best way to pay for education because you’re shifting the cost forward until you can earn more money” (260). She claims that the only reason students graduate with a lot of debt is because they chose to attend the college of their dreams regardless of the cost (257). If students were more reasonable in their college choices, their overall debt would not be so drastic. Wilson believes that even though college students may graduate with a lot of debt, college is still worth the

    Read More

  • The Problem Of College Debt

    978 Words  | 2 Pages

    To start, one considerable solution to help with student debt is working and saving. At this point in life, saving money is an easy strategy due to limited responsibilities and bills. Since many students are not yet independent in terms of living expenses, they are “reall...

    Read More

  • Credit Card Debt Among College Students

    2354 Words  | 5 Pages

    As young people begin their transition into university life there is reason to suggest that the lack of financial literacy provided through public or private education has caused an increase in debt for the demographic. However, credit card debt is not a new social issue and does not find its origin with college students. Debt among Americans has steadily grown as more people rely on credit cards. These habits have provided an example to younger generations, which has shaped how money is managed. Given that money is often viewed as promoting security, status, and power many issues arise over debt specifically related to newer spenders.

    Read More

  • The Importance of Financial Literacy

    631 Words  | 2 Pages

    Making improvements on our financial literacy results in a wave of impacts on our economy and the financial health in our society because of responisble behiavior with our finances. These modifications to our behavior are neccesary because it let's us address primary cultural problems, for example over-credits on your purchases, mortgages possibly resulting in debt, dealing with expectations on inflation and also planning on your retirement.

    Read More

  • Financial Literacy In Public Schools

    1375 Words  | 3 Pages

    One might say there is a strong argument for the requirement of financial literacy for students in America. Americans continue to have increased balances on their credit cards as well as show a continued increase in bankruptcy filings according to statistics. Even the “baby boomer” generation is no longer exempt from financial hardships, as their generation has recently taken the title of “Fastest Growing Bankruptcy Demographic” from the 25 – 34 year olds (Linfield, 2011). Would it not make sense to say that Americans need to learn how to budget and borrow more wisely? Would not the best place to start be in schools? Well, the answer to that question is not a simple one.

    Read More

  • Financial Literacy Argumentative Essay

    717 Words  | 2 Pages

    Some schools have little money and few teachers and Matthew Yale said, “[T]he Department of Education’s next step is to work with districts and teachers and help them find the money they need” (Bernard 6). It will take parents to start this movement (Bernard 7) because parents have to be willing to give up more money so that their children know what to do with their money. Financial literacy courses can potentially make students overconfident about their skills and make them do even worse (Burns 8). Harvard Business School performed a study where it was concluded that financial literacy courses “weren’t effective in changing people’s financial decisions” (Burns 10). Thaler stated “A new paper by three business school professors … uses a technique called meta-analysis looking at results from 168 scientific studies of effects to teach people to be financially astute, or at least less clueless. The authors’ conclusions are clear: over all, financial education is laudable, but not particularly helpful” (13). The shows that financial literacy courses are good but they are not helping the youth as of now, so the right combination has not been found to teach the youth how to control their

    Read More

  • Analysis of Rich Dad, Poor Dad

    947 Words  | 2 Pages

    The second lesson concentrates on the importance of financial literacy. There is one rule to follow so as to understand financial literacy – “Know the difference between an asset and a liability, and buy more assets.” In order to do this, you need to be able to understand and comprehend numbers instead of jus...

    Read More

  • Financial Literacy Essay

    1385 Words  | 3 Pages

    High school seniors takes deep breaths and parade onto the stage. The beginning of a new chapter awaits as they make the journey from one point of the stage to the end. They reflect on what they have been taught in those many years of high school. The most terrifying fact while graduating high school is the next step: making it on their own. Because they have taken part in the appropriate classes, the students are certain that they have gained the correct knowledge to begin making their mark on the world. In high school, it is crucial to achieve the appropriate classes in order to feel ready to take on the world ahead as an adult. However, many students lack proper education. One key example is financial literacy. Financial literacy is the

    Read More

  • Why Young People Are Geting into Debt

    1161 Words  | 3 Pages

    The lack of knowledge plays a big part in the debt young people are getting themselves into. Credit cards are often offered to young adults as soon as they get out of high school. Many take advantage of having a credit card without even thinking about the responsibilities that come with it, instead they think about the things they will be able to buy. In “Generation Debt” the author Tamara Draut says that young people are getting into debt younger than ever before. Two of the reasons that are more costly on young students that hit hard on the budget are car repairs, and travel for students who have families and friends in other states (231). From my experience I know first-hand what it was like to be offered credit cards right out of high school, and I didn’t hesitate to get any of them. I st...

    Read More

  • The Impact of Attending Seminars to the Development of the Analytical Skill of Financial Management Students

    1981 Words  | 4 Pages

    Seminars are bringing up a small group to discuss a particular subject requiring the attendee to actively participate. The importance of seminars to the analytical skill of financial management students are being shared and learned. From the study of John Whilttaker (n.d.) the financial analytical and negotiating skills of the students are being developed. Another study done by Jean-Marc Hackey(n.d.), information exchanges exist in the seminars. The speaker who shares and discuss with his/her experiences also learned from the opinion of the listeners or the attendees.

    Read More

More about Financial Literacy Courses

Open Document