My daughter asked me to look over her class registration form for her senior year in high school. We made sure she had all the required classes first, then discussed electives. I was tickled when she stated she thought a personal finance class was a good idea.
I think her exact reasoning was, “So she can be a smart, independent woman.” A quote from somewhere I’m sure.
Financial Education Is Important
If high school prepares students for the rest of their lives, giving them the skills needed to be productive successful adults, then personal finance should be a required class. I believe there needs to be reinforcement in the home as well, but it’s too important for the school system to not be involved. I was actually surprised her high school offered the class, as I’m sure it wasn’t in the course listing a few years ago when my son was in high school.
What’s Covered In The Class
The course description lists topics covered include:
- Checking and savings accounts
- Budgeting and spending patterns
- Credit awareness and use
- housing and auto options
- rent vs own
- investment options such as stocks, bonds, mutual funds IRAs and stock market
- insurance types such as auto, life and health
What I Don’t Like
The class hits many major important financial topics, although I’d like to also see it cover tax witholdings and income tax return filing. My real problem with the class is it’s only a semester long (half the school year). That’s a lot of ground to cover in a single semester. It might even be a little heavy on information for a full year class. But, at least it will lay the groundwork for her personal finance knowledge and be a conduit for further discussions at home.
I’m happy to see my daughter’s high school offers a personal finance class. It may be missing a topic or two, and a little short for all the ground it’s attempting to cover but at least it’s a start. I’m ecstatic my daughter realizes the importance of taking the class, and I’m confident the skills she learns will help her be a financially responsible and successful adult.
What do you think EOD Nation, should personal finance education be mandatory in our schools?