Answered Conundrum Next Conundrum
Best Answer Decided by Votes
Marked as Best!
September 26, 2009 08:20 PM
(0)
(0)
Permalink |
Report
The first thing they should make sure kids in high school understand is how to do basic arithmatic, then do some basic algebra, and then do some elemntary calculations on how interest, compounding or otherwise, works.
*Then* you can get into pointing out to them how that might be applicable to money managment.
Then you can move on to show how competition only works in some situations, but in other situations it actually slows down the rate of progress.
And then you can teach them how wealth is relative to the environment one finds themselves in to spend it upon.
I know native americans in Alaska who don't make a lot of money, but every day they live the kind of life and do the kinds of things and eat the kinds of food and look at the types of scenery that rich Chicagonians pay a fortune to see for just a couple weeks a year.
I also know some Chicagonians who worked very hard for decades to build up their 401k's, only to see the value of those, and all their work, wiped out a year ago when the economy nearly collapsed.
Helpful Answer?
*Then* you can get into pointing out to them how that might be applicable to money managment.
Then you can move on to show how competition only works in some situations, but in other situations it actually slows down the rate of progress.
And then you can teach them how wealth is relative to the environment one finds themselves in to spend it upon.
I know native americans in Alaska who don't make a lot of money, but every day they live the kind of life and do the kinds of things and eat the kinds of food and look at the types of scenery that rich Chicagonians pay a fortune to see for just a couple weeks a year.
I also know some Chicagonians who worked very hard for decades to build up their 401k's, only to see the value of those, and all their work, wiped out a year ago when the economy nearly collapsed.
(0)
(0)
Permalink |
Report
Reply
Other Answers (3)
September 25, 2009 07:10 AM
http://www.oregonlive.com/news/oregonian/susan_nielsen/index.ssf/2009/09/pe...
http://www.pfeg.org/ Helpful Answer? (2)
(0)
Permalink |
Report
The majority of high school curricula in the US is devoid of any practical financial or economical instruction. Perhaps it is not that financial competition, nor the pursuit of financial wealth be taught in particular; but rather, basic personal finance matters could, and should be covered.
The old subject, known to some past generations as home economics, has been dropped in most school districts. Revitalizing this subject, focusing more on personal financial management and away from how to fold napkins for dinner guests, might do the student population a world of good.
I am sure that the vast majority of us, either through personal experience, or via an individual close to us, know how costly silly financial mistakes are. I am not talking about ones that were committed out of the recklessness of youth; but rather, the ones made out of sheer ignorance.
Insuring that every high school graduate emerges with a survival kit of basic personal finance skills, will benefit them, their community, and the whole of society in the long run. I would even stretch my neck out and state that it should be a requirement for graduation.
The net result will be a society more apt for financial competition and by consequence, more efficient in its pursuit of wealth.
Source(s):
The old subject, known to some past generations as home economics, has been dropped in most school districts. Revitalizing this subject, focusing more on personal financial management and away from how to fold napkins for dinner guests, might do the student population a world of good.
I am sure that the vast majority of us, either through personal experience, or via an individual close to us, know how costly silly financial mistakes are. I am not talking about ones that were committed out of the recklessness of youth; but rather, the ones made out of sheer ignorance.
Insuring that every high school graduate emerges with a survival kit of basic personal finance skills, will benefit them, their community, and the whole of society in the long run. I would even stretch my neck out and state that it should be a requirement for graduation.
The net result will be a society more apt for financial competition and by consequence, more efficient in its pursuit of wealth.
http://www.oregonlive.com/news/oregonian/susan_nielsen/index.ssf/2009/09/pe...
http://www.pfeg.org/ Helpful Answer?
(2)
(0)
Permalink |
Report
Reply
September 25, 2009 06:40 PM
(0)
(0)
Permalink |
Report
High school is for education and expanding the mind. While basic financial literacy, such as how to balance a check book and how to compare interest rates on loans should be part of a general life skills school, I don't believe that "values' such as the pursuit of wealth should be inculcated through the schools. The topics could be introduced as part of an ethics or philosophy course, designed to help students determine their own personal values.
Helpful Answer?
(0)
(0)
Permalink |
Report
Reply
September 26, 2009 12:40 AM
(0)
(0)
Permalink |
Report
I spent way too much of my life thinking about how to make money, so that I totally neglected what matter most.
Now, I do what I love for a living, and the money just naturally flows to me. I'm living a dream.
Maybe that's what kids need to be taught. To find what they really enjoy, what they are really good at, and find a way to make a living doing that.
I sure wish my family and school had supported my dream before... I didn't really start living my life, living my dream, until I was 33 years old. I'd given anything to have those lost years back.
No, I don't think the pursuit of wealth should be taught. I think the basic foundations of what a person needs to survive should be taught, while fostering and nurturing passions.
Helpful Answer?
Now, I do what I love for a living, and the money just naturally flows to me. I'm living a dream.
Maybe that's what kids need to be taught. To find what they really enjoy, what they are really good at, and find a way to make a living doing that.
I sure wish my family and school had supported my dream before... I didn't really start living my life, living my dream, until I was 33 years old. I'd given anything to have those lost years back.
No, I don't think the pursuit of wealth should be taught. I think the basic foundations of what a person needs to survive should be taught, while fostering and nurturing passions.
(0)
(0)
Permalink |
Report
Reply
Answer this Question
View All Money QuestionsAsk a Conundrum
Please visit these retailers to purchase Conundrum or find the wine at these fine restaurants:
-
1991 St Helena Hwy
-
699 St Helena Hwy
-
1115 Main St
-
1321 Main St
-
caymus cab - Leesburg Vintner gallery - Photos - Leesburg Vintner ...: Keywords: Leesburg wine, Loudoun wine, Virg... http://bit.ly/bK4TMz
1:05 a.m. March 22nd, 2010 -
RT @FrankLovesWine: Time to open that Caymus Select because the House Passed Health Care Reform! http://bit.ly/abHBJx #wine
8:04 p.m. March 21st, 2010 -
Time to open that Caymus Select because the House Passed Health Care Reform! http://bit.ly/abHBJx #wine
7:29 p.m. March 21st, 2010 -
Had a bottle of '96 Caymus Cab with dinner last night. Very nice. It is holding up well and pretty tasty!
11:34 a.m. March 21st, 2010 -
Caymus Family of Wines, a five-course dinner with wine pairings~www.ranchandcoast.com
3:05 p.m. March 20th, 2010