Everyone makes financial decisions on a regular basis of their day. It is important to be educated and informed but high schools now want to have financial literacy classes as a required course. Financial literacy classes should not be mandatory in high schools. The process would be expensive, ineffective, and students wouldn’t take advantage of the course, instead it would harm them. In order for high schools to have this course they would need more teachers. Hiring more teachers would mean more money. Source three states, “A required course would necessitate about 10 teachers each year and cost the system about $600,000 annually.” If it costs $600,000 for only a single county and all fifty states were to offer this mandatory class, it would cost major money for our economy. This means that the course would be a risky investment because it might work for some students but no one will know the results of the effectiveness of the class. Also if the course was required that would mean that all students will need to pass the course in order to graduate. …show more content…
Even though it is important for high school graduates to know how to make proper financial decisions there is no actual data to show if it is effective. In source three it states, “...while the district has piloted a financial literacy course, no local data has been collected on its effectiveness.” This means that if this course could possibly be effective, we wouldn’t see quick results until later on. Also if there were to be any changes it would have to be a major impact to our economy in order for the investment to be worth it. If the course ended up being ineffective it would be a major waste of money for the
Once high school ends, most students progress to college after a year or two from graduation. Due to all of the expenses for textbooks and etc., the student might realize that they don’t comprehend what to conserve or spend their money on to get through their years of college which will leave them clueless on what to do next. With situations like this that might occur, all high school students should take a financial literacy class as part of the mandatory course in order to get a diploma. With a numerous amount of students not having enough knowledge about how to manage their money carefully, presumably they’ll have trouble living their life as an adult. Taking a financial literacy class would help students stay out of debt, they’ll be prepared for their future, and they would recognize the discrepancies between wants and needs.
Making courses mandatory only lowers the GPA of that student if they were to do poorly. Graff is evidence himself when he states, “Until I entered college, I hated books and cared only for sports” (1). He was like most kids today, uninterested in learning, but later became a college professor. If Graff did well, I'm sure kids in his position would succeed too. If we let students have a longer leash, hopefully they will be mature enough to pick the topics they are interested in, and later on might help them in a career with those interests. Students should be allowed to choose the classes in which will lead them to pursuing the career with them. With the help of guidance and career counselors, students would be able to find what interests them, and pursue that field. It’s up to the school to make classes mandatory, but the mandatory classes should be that of what a student would use on a daily
For an institution that promotes self discovery and educational freedom, mandatory courses seem to be dogmatically needless.
High school seniors need to be taught economic responsibility. Economic responsibility should not only be taught in the schools, but in the home as well. As we have discussed in prior chapters, some of the reason we are in the mess we find ourselves in is due to the overspending not only by individuals, but the government as well. Arthur MacEwan states, “U.S. consumers have a reliance on credit and fail to look beyond the present” (2012, p. 6) As a consumer the high school senior needs to be taught how to look beyond what they see. How are they going to pay for the credit they have taken out, if our country hits another recession and they are left without employment?
I think that making students go to personal finance classes during high school is a good thing. It educates younger people on how to manage their money and how to make purchases and that’s just a start. It will teach you how to build wealth and set a good foundation for the future.
Students will need to know how the economy works. If it was up to the student to learn it on their own, it will most likely go unlearned. It must be taught when the mind is still developing new ideas and is mature enough to see both sides of arguments instead of blindly following the advice of a biased internet page. Students need to understand the world they live in. Not only will an Economics class prepare the student to face his future, he will understand how to mold it and make it his.
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.
My first reason why general education classes should not be required in college is because the topics that they are learning have already been taught in high school. In an article by Jessica Williams, she summarizes it by saying, “We spend 13 years in ‘general education’ courses. Why are we wasting time rehashing what we already know we aren’t interested in when we could be spending that time adding to our resumes” (Williams). For a majority of students, if they take a class where they have already learned the material or even have a grasp on the subject, most likely, they will become bored and uninterested in their sch...
Today’s college students are bombarded with ads, commercials and mailings telling us that we need to spend money to be happy. At the same time, many of us come to college very ill-equipped to handle our finances. Financial literacy, defined as "the ability to use knowledge and skills to manage one's financial resources effectively for lifetime financial security," is important in our money matters as well as academic performance. Based on your understanding of financial literacy and experience (or lack thereof) of personal finance, 1) pick two personal finance topics (including but not limited to: credit cards, student loans, budgeting, saving, banking, and investment, etc.)
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.
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.
Numerous amounts of people have financial problems when they get out of high school, so what should the school board do? In 2007, thirty-four out of fifty states have personal finance courses in their curriculum (Bernard 4). A financial literacy course seems to be what a majority of states are doing. Financial literacy courses have their pros and their cons just like everything else. Financial literacy courses bring up some very important questions.
One way our school could accomplish the goal of financial literacy education is creating a set class for high school students towards the end of their high school career. Offering classes in a curriculum that is set helps kids become better prepared for the real world. They receive a better understanding of what it is like having a great deal of responsibility, without the overwhelming of stress that comes with it since the class would be set in a classroom. According to the article written by Laura Langemo from Fox6 entitled “MPS Eighth-Graders Get a Lesson in Financial Literacy”, the Milwaukee Public School District Superintendent Gregory Thornton states, “We need [students] to be ready financially. We need them to be ready to step into the world and be able to actually navigate and manage money.” Students should feel confident after graduating that they will be capable of receiving such a great sense of responsibility. Teaching students about financial literacy at an older age throughout high school will allow them to be ready for their lives ahead. According to this article, many of the students were surprised with how bills amass in such a rapid pace. Similarly, the article from the Sandpiper by Edie Ellison includes information about being able to offer high school students classes in
Should the lottery system be required to offer a financial literacy course before giving winner’s their money? Many Americans would say “No”, arguing that it is a matter of personal choice as to whether a lottery winner seeks out financial advice concerning their newfound wealth. However, this personal choice could lead to catastrophic consequences without proper financial help, such as bankruptcy. To prevent bankruptcy, which causes unhappiness and depression, lottery winners should be required to take a financial literacy course or to meet with a financial advisor before receiving their winnings.
If we don't know the basic skills then how will we ever get anywhere. Kids should have to pass a basic test to graduate from high school, because if they don't they may never end up with good paying jobs. Arguments Against