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Finance Education

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muffler dragon;1896110; said:
Never owned a Kia; however, I have owned four Hyundais which is essentially the same manufacturer (Sonata, Santa Fe, Elantra and Accent). I have found the performance and safety to be at least equivalent to what I would expect out of the more expensive Hondas and Toyotas (and this is when they're used). The only part of your automotive gripe that may have any traction is the leasing part.
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I'll concede the quality point, especially given that Toyota isn't what it was in the late 90s. Also, Kia and Hyundai have come a long way-Hyundai's warranty alone makes them pretty attractive cars. The lease is a bad idea IMO because at the end of 2 or 3 years these people have nothing to show for it. Then the cycle continues as they lease another one.

I'm the type of guy who owns a car for a number of years and keeps them alive in my garage. Even though I'm a lazy slob, I've performed all of my own work (warranty work aside) since I was 16.I also do brake jobs, oil changes, struts, whatever for coworkers for parts and $20/hr.

I can tell you that there is an appreciable difference between a five year old Kia and a five year old Toyota. Hyundais are good cars now and have been for a few years, Kias are much closer to being disposable cars.

Also-I hope I didn't piss anyone off, that's not why I come to the Planet. If I pissed off 86, that's fine, unless he's being sarcastic. I take a beating in my community for my profession, and I've been called lazy, greedy, heartless, you name it. I'm not going to type out a defense, most people's opinions are formed on education and won't/can't be changed.
 
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In my IMO, teaching basic money concepts is more important and useful than anything that's actually being taught in schools today.

I get a rather intimate look into people's lives via their finances, and it's depressing as hell some days.
 
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I think 99% of what's important in personal finance education could be taught in a day or two (so what 'Lion's mom did is almost certainly very valuable). There is some level of knowledge involved (i.e. what credit cards can do to you), some level of common sense that should still probably be taught (buying bottled water every day is really expensive), and the rest (and majority of it) is self-control and delayed gratification.

So I don't think that a finance class should be required, but I do think that an econ class should be (or maybe it already is? I don't know actually) and within that econ class you should have to deal with personal finance a little. My HS econ teacher talked about that stuff a little bit every once in a while, and spent a day on it as well.
 
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Put me in the personal finance should be taught camp.

IMO it could/should be part of the basic math curriculum, and while I think a lot of it is common sense, as Bucky notes, it is not and I see it from a similar perspective.

I don't think one day is enough, I think there is a good curriculum to be had here to include:

Budgets
Savings
Taxes
Insurance
Basic home accounting (i.e. reconciling checkbooks, etc...)
Retirement planning
 
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xcrunner;1899502; said:
So I don't think that a finance class should be required, but I do think that an econ class should be (or maybe it already is? I don't know actually) and within that econ class you should have to deal with personal finance a little. My HS econ teacher talked about that stuff a little bit every once in a while, and spent a day on it as well.
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A basic econ class is not required, but most schools do offer it as an elective. Depending on the district allot of the stuff that was mentioned here is taught in some way of another. In some schools it is cover in Family Consumer Science ( what use to be call home ec). Some cover it is various accounting or Bussiness classes, and some cover it is economics. Unfortunatly when the schools have to cut classes/staffing because of budget shortfalls, these classes are the first to go since they are not required by the state.
 
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One of my best friends teaches a personal finance class to high school kids in Cincinnati. She said that it is kind of surprising how many of them dont really know any of the basics about personal finances. I think it really should be a required class in H.S. It can only benefit more people to have that knowledge..
 
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Definitely agree that it should be taught in high school. My high school which was one of the nicer ones in the area used to have a class in it and it got axed in budget cuts. Yet somehow electives like photography and humanities classes still get funded.

Do many high schools in large areas have teachers just to teach Econ classes? I've always been convinced that I could do something like that since my background is in Econ (I could probably teach most of the college classes better then a good number of the people that taught me at Ohio State..u know if I had a PHD and all that :tongue2:). Just kind of curious...
 
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Why would our government-run school system want a economically literate population? That would make many of the bullshit political arguments re: economics moot because they wouldn't work any more, and fewer people would get themselves into situations that made them dependent on government.

In short, a financially educated populace is bad for business when your business is government. It is no accident that our system does not emphasize it. It doesn't take a genius to realize its importance, so its exclusion cannot logically be an accident.
 
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Jake;1941089; said:
Why would our government-run school system want a economically literate population? That would make many of the bullshit political arguments re: economics moot because they wouldn't work any more, and fewer people would get themselves into situations that made them dependent on government.

In short, a financially educated populace is bad for business when your business is government. It is no accident that our system does not emphasize it. It doesn't take a genius to realize its importance, so its exclusion cannot logically be an accident.
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:lol:

If only the world were so simple.

I'm pretty sure that schools pumping out students likely to end up receiving government assistance one day (aka bad or struggling ones operating at a huge disadvantage from the get-go) would be happy just to adequately teach their kids the basics of reading, writing, math, and science.

Once they've got that covered, then maybe they can move on to personal finance. Baby steps, my friend.

I think you give people in "the business of government" way too much credit either way. Do you honestly think politicians and/or people in education administration are capable of formulating a plan so devious and convoluted?

I'm sure all of the principals and people in charge of designing a curriculum for poor kids have a secret mountaintop conference somewhere each year sponsored by the big government Democrats where they plan on how to keep those stupid bastard poor people dependent on government assistance. Item number one on the agenda, poor people's remarkable ability to miraculously become educated and productive members of society and how we can prevent that from happening. :rofl:

It really is humorous to think about the practical application of what you are implying here.

I honestly keep going back to one answer to questions like this. People are stupid. You could give them one-on-one finance lessons with Warren Buffet and they would still rack up copious amounts of debt that will crush them forever. Why? Because people are stupid and there is nothing that anyone can do about it.

Ride public transportation, go to the state fair, or eat at an all you can eat buffet a little more often and tell me that some extra finance classes in high school would have made an impact on those people's lives.
 
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