We all could use a lesson in being responsible with our finances. You would think that this would be something learned at home but the average American is not learning that there. So if schools are going to teach it, there should be a mandatory class that will help them to understand how to manage their finances in healthier ways. The economy would be stronger in more areas and soft in the areas that are not as important. Think about it, who really needs $200 speakers when they could put that up for retirement or save it for a home?
Financial literacy is important all the way around. You will learn how to handle taxes and other important things that prepare you for the adult world. Getting a head start as a child helps because that young person can start off getting it right the first time. The teacher responsible for the class should have some financial literacy lesson plans that will guide them on what they will teach first when getting started. That way, every child that takes the class will have some basic knowledge of what is expected of them as adults when applying for credit, loans, or doing things like buying a house and a car. It’s important that they understand that in managing their finances, they need to sit down and analyze what they have in terms of money before making a major purchase decision. Financial literacy will basically make you think about how you should spend your money and what is actually reasonable versus a dumb decision. You can’t expect to buy a house if you have an apartment full of $200 sneakers, and you are only making middle-class wages. At some point, you are going to want more, but there are habits you need to break in order to have more.
Making Sound Decisions
When it comes to financial literacy, to also about making sound decisions. You have to think about your future. Someday that may include a wife or husband and possibly children. What is going to happen when your family has outgrown the apartment or rental home? What if you need another vehicle? How about taking your family on an annual vacation? These are things to think about as your life begins to expand to include more than just you. So having your finances together is very important when dealing with life-changing events. This is baggage you can have under control before you decide to get married. Life won’t be so tough when you understand what’s really important when it comes to your finances. What’s more important? Is it your child having something to eat or that $400 purse? All of this should be taught in school as a curriculum.
Getting an education in finances will help to prepare a child in high school for the adult world. This is should not be a temporary or voluntary class. Financial literacy equals having a very stable economy.