Should schools teach finance?
Schools have financial classes as electives, but since it is optional, there is no obligation to take them. In states such as Alabama, Mississippi, Missouri, North Carolina, Tennessee, Utah, and Virginia it is required for students to take at least one semester of a finance class to graduate.
If finance classes become mandatory in schools in all places, kids will know how to manage their money efficiently. When kids learn about money management from an early age, it helps develop life-long healthy money habits. Research has shown that students with access to financial education are more financially responsible when they are adults, which results in less debt and a better life overall. They have a more solid foundation for their future because they know how money works and how they should manage it.
“I think finance classes help build the youth’s mindset of how to control their money and understand the value of it,” said Deerfield Beach High School Communication and Broadcast Arts (CBA) student Christoph Powell.
Financial classes can also negatively affect students, their lives, and their futures. There have been instances where teachers have taught finance classes at their respective schools despite feeling unqualified for the job. As a result, students receive incorrect or ineffective lessons, which could be consequential to their future careers. It is also very possible for parents to instruct their children about finance, as kids tend to listen more to their parents rather than other adult figures.
“If kids are taught [finance] in school, they’ll dislike the concept of learning about money because it’s common to dislike what you learn in school,” said DBHS International Baccalaureate (IB) student Brandon Kim.
Finance classes can be beneficial or detrimental, depending on the instructor, student body, and institution. Regardless of how children learn, it is crucial to teach kids about these topics so the coming generation will know how to manage their money and other people’s money if that is what they decide to do in the future. Not only are they affecting themselves by being uneducated in finances, but they will also impact others.
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