Investing

Should The Youth Of America Be Taught Personal Finance Grades K-12?

We live in a time when many people are having financial difficulty. We as Americans learn about personal finance as we go along in life. Andrew Napolitano studies the economy. American education teaches many different and valuable things. Personal finance should be taught in schools. Teaching the inner workings of the countries economy need to be studied. Stocks and bonds are a mystery to most who graduate high school. Not enough emphasis is put on savings. Many take out college loans that they will never be able to pay back. This can make it impossible for many to ever put away any savings. It all comes down to education. Proper education should teach someone how to survive in life. It is nice to spend time teaching the classics or learning about history, but how is one brought into the world of stocks and bonds and other important aspects of the economy if it isn’t included in the study program. The country is in debt that it can’t possibly payback. A large portion of individual Americans are also struggling with impossible debt. We live in a culture where debt is encouraged. We are told to borrow or to finance our way to prosperity and wealth. At the same time, everything is made possible by borrowing money. Money doesn’t seem real to many, and this can lead to bad decision making. One may think that if they don’t attend a college and get a degree then they simply won’t be able to function in life. They mindlessly go into a mountain of debt to achieve this. Then they find out that whatever they were studying doesn’t pay off financially in the real world. They wind up taking a minimum wage job to survive. The student loan people call them and demand money from someone living on minimum wage. Where is the reality in this situation? It is very common in today’s America. College loans and the debt they cause are destroying the lifeblood of this country. The banks are profiting hugely.

Many people would think nothing wrong with this situation. It is good that one percent of the people control practically all the wealth. Maybe that is why teaching about responsible, personal finance is not taught in schools. It would discourage people from form establishing credit. This is very important in today’s society. One needs good credit. To establish it one has to borrow money. Then they have you with the interest rates and fees involved. Banks are profiting hugely.

To correct this problem a whole new way needs to be sought so that our future generations don’t become slaves to the banking system. Basic things like never borrowing money for anything need to be encouraged. At one time there was a certain way of thinking about money in the United States. If one could not afford something then don’t buy it. Never borrow money. There was less debt then. The country was not in debt. Teaching about finance is a necessity in today’s complicated, financial world. Andrew Napolitano thinks more people should know about the economy. 

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