Part of my excitement about starting my own company is that I have the ability and freedom to choose my own focus. I’d always envisioned organizing the business planned with a “client” side and a “volunteer” side – to have a basis in both working with small entrepreneurs and those who are less financially fortunate.
Over the past couple years, my interest in financial literacy has grown. I won’t get into all the “my thoughts on the recession and/or housing crisis” bit, but I think we can say – apolitically – that there’s some need for basic economic education.
That said, I’m very curious what people learned in school about personal finances – how to budget, how to balance a checkbook, how to manage loans and resultant repayment schedules (for education or car expenses).
Not what you learned at home (unless you were homeschooled), but what your public or private education taught you.
We had a small Economics unit in fifth grade. We got little checkbooks and faux bank accounts. We researched our choice professions to learn what we’d earn at such endeavors and made weekly paycheck deposits in our accounts. Our teacher brought in clothing catalogs, grocery store circulars, and information about local apartments so could put together quasi-accurate budgets for living expenses.
I’m sure the project was well-intended, but we were given quite a bit of liberty. I chose to be a marine biologist (in the West Texan desert) and whenever I ran out of money I’d kill off a random relative and have them leave me all their cash. At the time, I thought $500 was the amount most people would bequeath, so I had to kill off quite a few people to make ends meet.
We had Home Economics in Junior High. Both years. Mandatory. We did a lot of cooking (home) and not much talking about money (economics). I hear that back in the day students would learn to form simple household budgets in this class. Not so much at my school.
Illinois has a requirement that high school students either take an economics class or pass a consumer proficiency test (or, at least, they had this requirement when I attended in the late 90s). While my high school offered Economics at an AP level, I opted for the consumer proficiency test. I’d heard it was hard to pass, but I managed to do so despite a rush to finish because I had to go to the bathroom like whoa and the proctor wouldn’t let me leave and come back.
Β Did you have any lessons in financial literacy at your school? Please share!
Rachael says
I remember learning how to write a check in Home Economics in seventh grade, but I don’t remember doing much else with money. Maybe we spent two weeks on stuff like balancing checkbooks and managing finances, which is less time than we spent learning how to sew pillows and weird little bean-filled stuffed frogs.
I don’t recall any financial education after middle school, which is kind of insane.
Helena says
Haha, we made pillows, too. I took mine on a class trip to Quebec and spilled Coke all over it at some point on the bus ride and one of the chaperones made me throw it away. Moral of the story = very few take-aways for me from Home Ec.
Rachael says
I remember learning how to write a check in Home Economics in seventh grade, but I don’t remember doing much else with money. Maybe we spent two weeks on stuff like balancing checkbooks and managing finances, which is less time than we spent learning how to sew pillows and weird little bean-filled stuffed frogs.
I don’t recall any financial education after middle school, which is kind of insane.
Helena says
Haha, we made pillows, too. I took mine on a class trip to Quebec and spilled Coke all over it at some point on the bus ride and one of the chaperones made me throw it away. Moral of the story = very few take-aways for me from Home Ec.
Abby says
I didn’t even know it was normal to learn financial education in school! I mean, we learned NOTHING – there wasn’t even “home economics” at my school! There was a typing class though, and I got an A.
Helena says
See, I’m not sure it IS normal. You’d think they’d tell you something… we are supposed to be preparing for life as adults, yes? I’m curious what people learned. My experience is a little scattered because of our moves – the stories above are in Texas, New York, and Illinois, so who knows what I would have learned if I stayed in one place.
Abby says
I didn’t even know it was normal to learn financial education in school! I mean, we learned NOTHING – there wasn’t even “home economics” at my school! There was a typing class though, and I got an A.
Helena says
See, I’m not sure it IS normal. You’d think they’d tell you something… we are supposed to be preparing for life as adults, yes? I’m curious what people learned. My experience is a little scattered because of our moves – the stories above are in Texas, New York, and Illinois, so who knows what I would have learned if I stayed in one place.
Kristen says
I think we had a week in 6th or 7th grade when we did a mock checkbook and bank account too, but I can’t be too sure. I didn’t write my first check til I was in high school and had no clue how to write it out!
Helena says
Ha! I remember writing my first (real) check – it was for bedding I was taking to my college dorm!
Kristen says
I think we had a week in 6th or 7th grade when we did a mock checkbook and bank account too, but I can’t be too sure. I didn’t write my first check til I was in high school and had no clue how to write it out!
Helena says
Ha! I remember writing my first (real) check – it was for bedding I was taking to my college dorm!
Sara {House Bella} says
I don’t remember having anything so involved as your basic economics class, but I did take economics in high school and loved it. I’m not sure it has ever come up on Twitter, but my degree is actually in economics. I’m one of THOSE people. π
As much as I loved econ in high school, we never talked about personal finance. I used to have a mound of college-years credit card debt to show for it (which I focused and paid off as soon as I graduated, how liberating!). I did have to take small business management in college, and that definitely has stayed with me.
Plus now, I’m a total grinch. Saver, right here!
Helena says
I didn’t know you were an Econ major! I took 4 courses for my Accounting degree and they were all micro, macro, stats… not personal finance, so, now that I think of it, the econ class I skipped in high school probably wouldn’t have covered it either… interesting.
Sara {House Bella} says
I don’t remember having anything so involved as your basic economics class, but I did take economics in high school and loved it. I’m not sure it has ever come up on Twitter, but my degree is actually in economics. I’m one of THOSE people. π
As much as I loved econ in high school, we never talked about personal finance. I used to have a mound of college-years credit card debt to show for it (which I focused and paid off as soon as I graduated, how liberating!). I did have to take small business management in college, and that definitely has stayed with me.
Plus now, I’m a total grinch. Saver, right here!
Helena says
I didn’t know you were an Econ major! I took 4 courses for my Accounting degree and they were all micro, macro, stats… not personal finance, so, now that I think of it, the econ class I skipped in high school probably wouldn’t have covered it either… interesting.
renita says
Most of my financial literacy definitely came from home.
But amusingly enough, I learned about the stock market in 1st or 2nd grade, in my “gifted and talented” class when we chose stocks and tracked them for a few weeks. My team won. π
In middle school we did a unit in my math class about basic household budgeting (sounds similar to your 5th grade unit) — we learned to write checks, chose jobs, apartments and cars out of the newspaper, that sort of thing.
I don’t recall anything of that nature in HS — but I was in mostly honors classes, maybe they thought we didn’t need it?
Helena says
My financial literacy definitely came from home as well. My parents are both very practical people. I learned the importance of saving from an early age. I remember getting money for Christmas and putting it into a savings account for College.
renita says
Most of my financial literacy definitely came from home.
But amusingly enough, I learned about the stock market in 1st or 2nd grade, in my “gifted and talented” class when we chose stocks and tracked them for a few weeks. My team won. π
In middle school we did a unit in my math class about basic household budgeting (sounds similar to your 5th grade unit) — we learned to write checks, chose jobs, apartments and cars out of the newspaper, that sort of thing.
I don’t recall anything of that nature in HS — but I was in mostly honors classes, maybe they thought we didn’t need it?
Helena says
My financial literacy definitely came from home as well. My parents are both very practical people. I learned the importance of saving from an early age. I remember getting money for Christmas and putting it into a savings account for College.
Erin says
Basically nothing.
I learned how to write a check in my 8th grade math class (never in anything but black or blue ink, always use little Xs instead of zeros when writing the 00/100 for the change).
I vaguely remember doing a “career day” sort of thing in 8th grade, where we went to a gymnasium somewhere, got assigned a career and a salary, and had to buy things.
Home Ec (also junior high, not high school) was learning how to sew an apron and make cinnamon toast in the oven.
High school econ, which, granted, should really be more about world economics, right, was mostly spent playing Monopoly. Our teacher was the baseball coach, and he was more interested in that than our education.
I’m obviously bitter about all of this. I feel like with more of a focus on fiscal responsibility and education, I might have gotten my personal finances in order before I was 25, instead of just in the last year or so.
Helena says
You aren’t alone at all, Erin, (which I’m sure you know). It seems like what and when you learn about personal finances is a total crapshoot.
Erin says
Debbie and I were talking about this this morning, and while I feel like my parents were pretty monetarily responsible, I honestly have no idea. Money wasn’t really talked about in our home.
As a result, it was really hard for me to acknowledge my own problems with credit card debt (which I will pay off this year, woo!) and student loan payments. There was always this sort of secrecy around money, and maybe embarrassment in talking about it. It’s definitely been a hurdle to get over.
Helena says
Great point – a lot of people don’t talk about money (we are taught it’s not polite conversation).
renita says
Some people don’t get their crap in order for many more years. Or ever. You’re smart enough that you’re definitely on the right track now π
Helena says
And amen to this! Congrats for getting everything in order so young!
Erin says
Basically nothing.
I learned how to write a check in my 8th grade math class (never in anything but black or blue ink, always use little Xs instead of zeros when writing the 00/100 for the change).
I vaguely remember doing a “career day” sort of thing in 8th grade, where we went to a gymnasium somewhere, got assigned a career and a salary, and had to buy things.
Home Ec (also junior high, not high school) was learning how to sew an apron and make cinnamon toast in the oven.
High school econ, which, granted, should really be more about world economics, right, was mostly spent playing Monopoly. Our teacher was the baseball coach, and he was more interested in that than our education.
I’m obviously bitter about all of this. I feel like with more of a focus on fiscal responsibility and education, I might have gotten my personal finances in order before I was 25, instead of just in the last year or so.
renita says
Some people don’t get their crap in order for many more years. Or ever. You’re smart enough that you’re definitely on the right track now π
Helena says
And amen to this! Congrats for getting everything in order so young!
Erin says
Basically nothing.
I learned how to write a check in my 8th grade math class (never in anything but black or blue ink, always use little Xs instead of zeros when writing the 00/100 for the change).
I vaguely remember doing a “career day” sort of thing in 8th grade, where we went to a gymnasium somewhere, got assigned a career and a salary, and had to buy things.
Home Ec (also junior high, not high school) was learning how to sew an apron and make cinnamon toast in the oven.
High school econ, which, granted, should really be more about world economics, right, was mostly spent playing Monopoly. Our teacher was the baseball coach, and he was more interested in that than our education.
I’m obviously bitter about all of this. I feel like with more of a focus on fiscal responsibility and education, I might have gotten my personal finances in order before I was 25, instead of just in the last year or so.
Helena says
You aren’t alone at all, Erin, (which I’m sure you know). It seems like what and when you learn about personal finances is a total crapshoot.
Erin says
Debbie and I were talking about this this morning, and while I feel like my parents were pretty monetarily responsible, I honestly have no idea. Money wasn’t really talked about in our home.
As a result, it was really hard for me to acknowledge my own problems with credit card debt (which I will pay off this year, woo!) and student loan payments. There was always this sort of secrecy around money, and maybe embarrassment in talking about it. It’s definitely been a hurdle to get over.
Helena says
Great point – a lot of people don’t talk about money (we are taught it’s not polite conversation).
renita says
Some people don’t get their crap in order for many more years. Or ever. You’re smart enough that you’re definitely on the right track now π
Helena says
And amen to this! Congrats for getting everything in order so young!
Daniela says
I grew up in South Texas and outside of junior high home ec (where I learned to sew a pillow that I gave to my grandmother) and a few AP-level courses in high school, I wasn’t taught really anything in terms of financial responsibility. I have the good fortune of having a former bank employee for a mom and she bestowed all the practical information she knew onto me. To this day, I’ll still call her with questions about loans, debt, and whatnot.
Daniela says
I grew up in South Texas and outside of junior high home ec (where I learned to sew a pillow that I gave to my grandmother) and a few AP-level courses in high school, I wasn’t taught really anything in terms of financial responsibility. I have the good fortune of having a former bank employee for a mom and she bestowed all the practical information she knew onto me. To this day, I’ll still call her with questions about loans, debt, and whatnot.
Daniela says
I grew up in South Texas and outside of junior high home ec (where I learned to sew a pillow that I gave to my grandmother) and a few AP-level courses in high school, I wasn’t taught really anything in terms of financial responsibility. I have the good fortune of having a former bank employee for a mom and she bestowed all the practical information she knew onto me. To this day, I’ll still call her with questions about loans, debt, and whatnot.
Deanna says
My middle school had a special program for “gifted” learners in which we were allowed to take different classes to enhance our education. I took all but one ASL class offered, but I digress. Through peer pressure I signed up for the Stock Market Game class, which taught me nothing about personal investment in a way that was meaningful to a 12-year-old.
I avoided home ec in high school (to my later regret), but we were required to take an Intro to Business class, which was basically a semester of learning personal finance. It made me so scared of debt that I didn’t get a credit card til age 24. And until I was eligible for a debit card I saved as much as I could and balanced my checkbook like a religious ritual. Shocking that an east TN school district would make me adept at both personal finances AND firing a gun.
Deanna says
My middle school had a special program for “gifted” learners in which we were allowed to take different classes to enhance our education. I took all but one ASL class offered, but I digress. Through peer pressure I signed up for the Stock Market Game class, which taught me nothing about personal investment in a way that was meaningful to a 12-year-old.
I avoided home ec in high school (to my later regret), but we were required to take an Intro to Business class, which was basically a semester of learning personal finance. It made me so scared of debt that I didn’t get a credit card til age 24. And until I was eligible for a debit card I saved as much as I could and balanced my checkbook like a religious ritual. Shocking that an east TN school district would make me adept at both personal finances AND firing a gun.
Deanna says
My middle school had a special program for “gifted” learners in which we were allowed to take different classes to enhance our education. I took all but one ASL class offered, but I digress. Through peer pressure I signed up for the Stock Market Game class, which taught me nothing about personal investment in a way that was meaningful to a 12-year-old.
I avoided home ec in high school (to my later regret), but we were required to take an Intro to Business class, which was basically a semester of learning personal finance. It made me so scared of debt that I didn’t get a credit card til age 24. And until I was eligible for a debit card I saved as much as I could and balanced my checkbook like a religious ritual. Shocking that an east TN school district would make me adept at both personal finances AND firing a gun.
Helena says
Ha, that’s awesome!
bethany says
Never had to take an econ class, never had to learn about budgeting in any other class. My parents didn’t have a great track record, so I never learned from them either. Great question, Helena! It’s made me realize that though I pile a heap of guilt on myself for not being financially stable, I didn’t have a lot of support or guidance in that area growing up, so I come by it honestly.
That being said, I want to change my habits and become more financially literate, especially since I’ve transitioned to part time work at my job to pursue freelance work. Maybe you were already planning to do this, but I’d love to see a blog series from you about financial literacy… π
bethany says
Never had to take an econ class, never had to learn about budgeting in any other class. My parents didn’t have a great track record, so I never learned from them either. Great question, Helena! It’s made me realize that though I pile a heap of guilt on myself for not being financially stable, I didn’t have a lot of support or guidance in that area growing up, so I come by it honestly.
That being said, I want to change my habits and become more financially literate, especially since I’ve transitioned to part time work at my job to pursue freelance work. Maybe you were already planning to do this, but I’d love to see a blog series from you about financial literacy… π
bethany says
Never had to take an econ class, never had to learn about budgeting in any other class. My parents didn’t have a great track record, so I never learned from them either. Great question, Helena! It’s made me realize that though I pile a heap of guilt on myself for not being financially stable, I didn’t have a lot of support or guidance in that area growing up, so I come by it honestly.
That being said, I want to change my habits and become more financially literate, especially since I’ve transitioned to part time work at my job to pursue freelance work. Maybe you were already planning to do this, but I’d love to see a blog series from you about financial literacy… π
Helena says
It’s something I’m considering for the SweeterCPA blog – I will keep you posted!
Jessica @ Faith Permeating Life says
Freakonomics had a podcast a while back about even when people are taught about finances, they don’t do a great job following through with what they learned. They recently posted an article about two different financial curricula introduced in Ghana, which is really interesting; they haven’t released the results yet but I’m guessing that embedding the lessons in the larger curriculum is more successful than teaching finances as a separate topic. I thought you’d find it interesting!
Jessica @ Faith Permeating Life says
Here’s the article that lays out what was in the original podcast. They even mention home ec, and how it used to have a financial component π
Jessica @ Faith Permeating Life says
Freakonomics had a podcast a while back about even when people are taught about finances, they don’t do a great job following through with what they learned. They recently posted an article about two different financial curricula introduced in Ghana, which is really interesting; they haven’t released the results yet but I’m guessing that embedding the lessons in the larger curriculum is more successful than teaching finances as a separate topic. I thought you’d find it interesting!
Jessica @ Faith Permeating Life says
Here’s the article that lays out what was in the original podcast. They even mention home ec, and how it used to have a financial component π
Helena says
ooh, thank you!
Melbourne on my mind says
What I learnt about economics in school? ABSOLUTELY NOTHING. Our home ec classes were literally just cooking and a small amount about nutrition/diet/the development of a foetus (WHY?? Surely that’s biology?! Or human development??). Maths was maths, and aside from the basics that I learnt in primary school, I’ve never used any of it again.
There was an option to do Economics in years 11 and 12 for VCE (Victorian Certificate of Education. The equivalent of a high school diploma), but only the girls who wanted to actually do finance/economics at uni took it. This was not me.
So yeah. Six years of algebra and calculus and all manner of other useless nonsense. Nothing about budgeting or managing loans or anything. The balancing chequebooks part would have been pretty useless here, because no one uses cheques (it costs like $5 for the bank to process a cheque!), but the budgeting and stuff would have been handy.
Sometimes, I think the only reason I’m not completely broke is because I’m an epic cheapskate (thank you, Scottish ancestry)!! π
Melbourne on my mind says
What I learnt about economics in school? ABSOLUTELY NOTHING. Our home ec classes were literally just cooking and a small amount about nutrition/diet/the development of a foetus (WHY?? Surely that’s biology?! Or human development??). Maths was maths, and aside from the basics that I learnt in primary school, I’ve never used any of it again.
There was an option to do Economics in years 11 and 12 for VCE (Victorian Certificate of Education. The equivalent of a high school diploma), but only the girls who wanted to actually do finance/economics at uni took it. This was not me.
So yeah. Six years of algebra and calculus and all manner of other useless nonsense. Nothing about budgeting or managing loans or anything. The balancing chequebooks part would have been pretty useless here, because no one uses cheques (it costs like $5 for the bank to process a cheque!), but the budgeting and stuff would have been handy.
Sometimes, I think the only reason I’m not completely broke is because I’m an epic cheapskate (thank you, Scottish ancestry)!! π
Melbourne on my mind says
What I learnt about economics in school? ABSOLUTELY NOTHING. Our home ec classes were literally just cooking and a small amount about nutrition/diet/the development of a foetus (WHY?? Surely that’s biology?! Or human development??). Maths was maths, and aside from the basics that I learnt in primary school, I’ve never used any of it again.
There was an option to do Economics in years 11 and 12 for VCE (Victorian Certificate of Education. The equivalent of a high school diploma), but only the girls who wanted to actually do finance/economics at uni took it. This was not me.
So yeah. Six years of algebra and calculus and all manner of other useless nonsense. Nothing about budgeting or managing loans or anything. The balancing chequebooks part would have been pretty useless here, because no one uses cheques (it costs like $5 for the bank to process a cheque!), but the budgeting and stuff would have been handy.
Sometimes, I think the only reason I’m not completely broke is because I’m an epic cheapskate (thank you, Scottish ancestry)!! π
Helena says
Oh, you Aussies and your plastic money! π
Jami says
Sadly, I learned about finances by making huge mistakes and married someone who was terrible with budgeting. I learned nothing about finances from my parents. That was a topic that was NOT discussed – ever. I learned more when I went to college and took business classes and then starting working. My son knows everything there is to know about what I make, how much the house payment is, etc. I will NOT have him learn from the mistakes I made. He has successfully paid off his car early and he has his own credit card with a limit he can handle in case he gets his hours cut. Communication and hands on experience is a must when it comes to the generations to come.
Jami says
Sadly, I learned about finances by making huge mistakes and married someone who was terrible with budgeting. I learned nothing about finances from my parents. That was a topic that was NOT discussed – ever. I learned more when I went to college and took business classes and then starting working. My son knows everything there is to know about what I make, how much the house payment is, etc. I will NOT have him learn from the mistakes I made. He has successfully paid off his car early and he has his own credit card with a limit he can handle in case he gets his hours cut. Communication and hands on experience is a must when it comes to the generations to come.
Jami says
Sadly, I learned about finances by making huge mistakes and married someone who was terrible with budgeting. I learned nothing about finances from my parents. That was a topic that was NOT discussed – ever. I learned more when I went to college and took business classes and then starting working. My son knows everything there is to know about what I make, how much the house payment is, etc. I will NOT have him learn from the mistakes I made. He has successfully paid off his car early and he has his own credit card with a limit he can handle in case he gets his hours cut. Communication and hands on experience is a must when it comes to the generations to come.
Kerry says
The only personal finance class I took was in was in highschool. They gave us an average salary that you make out of college, costs for utilities, car payment, and then the local paper to look up rent for apartments. The task was to balance a budget on a reasonable amount. And it was VERY hard to do it.
I don’t think it resonated with most of my fellow students though. Most were from families worth several millions, would not have student loans, had new cars bought for them on their 16th bdays and free trips out of the country on the reg. London, Costa Rica or a private plane to the Virgin Islands was how my friends spent their spring break.
I didn’t have a credit card until I was 24? I think that helped. And I have always been responsible about money but not to the point where I was prepared for the current economy. If we hadn’t had the decline, I would be sitting debt free except for student loans.
Because 100% of my friends before the age of 18 did not have student loans, that definitely put them ahead of the curve. Having parents who could help with a downpayment did too. Some are screwed however because they bought before 2009 but I can’t feel bad for them. Buying a condo is so much easier without student loans but with parental help it is a ton easier.
I think education about student loans should be mandatory in all high schools. When weighing the decision for college that should be part of the conversation. I understood that I would have loans and while I worked a lot in junior high and high school, I didn’t understand the full impact. College doesn’t necessarily need to be the first step. I was someone who always did very well in school but I think more options should be presented to teenagers. You don’t need to live on campus. You don’t need to automatically go to college. Interest rates are so high now on student loans and they allow you to take out so many now. Graduating with a $100k loan at an 8% interest is crushing.
Kerry says
The only personal finance class I took was in was in highschool. They gave us an average salary that you make out of college, costs for utilities, car payment, and then the local paper to look up rent for apartments. The task was to balance a budget on a reasonable amount. And it was VERY hard to do it.
I don’t think it resonated with most of my fellow students though. Most were from families worth several millions, would not have student loans, had new cars bought for them on their 16th bdays and free trips out of the country on the reg. London, Costa Rica or a private plane to the Virgin Islands was how my friends spent their spring break.
I didn’t have a credit card until I was 24? I think that helped. And I have always been responsible about money but not to the point where I was prepared for the current economy. If we hadn’t had the decline, I would be sitting debt free except for student loans.
Because 100% of my friends before the age of 18 did not have student loans, that definitely put them ahead of the curve. Having parents who could help with a downpayment did too. Some are screwed however because they bought before 2009 but I can’t feel bad for them. Buying a condo is so much easier without student loans but with parental help it is a ton easier.
I think education about student loans should be mandatory in all high schools. When weighing the decision for college that should be part of the conversation. I understood that I would have loans and while I worked a lot in junior high and high school, I didn’t understand the full impact. College doesn’t necessarily need to be the first step. I was someone who always did very well in school but I think more options should be presented to teenagers. You don’t need to live on campus. You don’t need to automatically go to college. Interest rates are so high now on student loans and they allow you to take out so many now. Graduating with a $100k loan at an 8% interest is crushing.
Kerry says
The only personal finance class I took was in was in highschool. They gave us an average salary that you make out of college, costs for utilities, car payment, and then the local paper to look up rent for apartments. The task was to balance a budget on a reasonable amount. And it was VERY hard to do it.
I don’t think it resonated with most of my fellow students though. Most were from families worth several millions, would not have student loans, had new cars bought for them on their 16th bdays and free trips out of the country on the reg. London, Costa Rica or a private plane to the Virgin Islands was how my friends spent their spring break.
I didn’t have a credit card until I was 24? I think that helped. And I have always been responsible about money but not to the point where I was prepared for the current economy. If we hadn’t had the decline, I would be sitting debt free except for student loans.
Because 100% of my friends before the age of 18 did not have student loans, that definitely put them ahead of the curve. Having parents who could help with a downpayment did too. Some are screwed however because they bought before 2009 but I can’t feel bad for them. Buying a condo is so much easier without student loans but with parental help it is a ton easier.
I think education about student loans should be mandatory in all high schools. When weighing the decision for college that should be part of the conversation. I understood that I would have loans and while I worked a lot in junior high and high school, I didn’t understand the full impact. College doesn’t necessarily need to be the first step. I was someone who always did very well in school but I think more options should be presented to teenagers. You don’t need to live on campus. You don’t need to automatically go to college. Interest rates are so high now on student loans and they allow you to take out so many now. Graduating with a $100k loan at an 8% interest is crushing.
Helena says
I agree so much with the thought that college debt is not explained well to high school juniors and seniors and, as a result, so many people leave college with crippling debt. It’s so hard to ever feel you have solid footing if you have that much debt!
Beth says
A) I love the story of little Helena the marine biologist/grim reaper.
B) In high school, we had to take a consumer ed. class but it was a joke. I believe our textbook was from the ’70s and for extra credit, people would bring in name brand and generic items for blind tests. I chose to test animal crackers, but the test was not blind because someone pointed out that on the boxes, the name brand were zoo animals, whereas the generics were farm animals. Foiled!
That was as close as we got to personal finance in school. Which is not very close.
Helena says
Farm Animals < Zoo Animals
Beth says
A) I love the story of little Helena the marine biologist/grim reaper.
B) In high school, we had to take a consumer ed. class but it was a joke. I believe our textbook was from the ’70s and for extra credit, people would bring in name brand and generic items for blind tests. I chose to test animal crackers, but the test was not blind because someone pointed out that on the boxes, the name brand were zoo animals, whereas the generics were farm animals. Foiled!
That was as close as we got to personal finance in school. Which is not very close.
Helena says
Farm Animals < Zoo Animals
Beth says
A) I love the story of little Helena the marine biologist/grim reaper.
B) In high school, we had to take a consumer ed. class but it was a joke. I believe our textbook was from the ’70s and for extra credit, people would bring in name brand and generic items for blind tests. I chose to test animal crackers, but the test was not blind because someone pointed out that on the boxes, the name brand were zoo animals, whereas the generics were farm animals. Foiled!
That was as close as we got to personal finance in school. Which is not very close.
Helena says
Farm Animals < Zoo Animals
Kaytie says
Nothing – I don’t remember learning ANYTHING about financial literacy in high school or college. I can remember trying not to cry on the phone while talking to the student loan people, because I didn’t understand anything he was saying. Sadly I’m still not that great when it comes to financial stuff… luckily now I have a husband who is. π
Brynna (Brynna Begins) says
I can honestly say that other than 6th grade check-writing and my work with running the student council store in jr. high (which was a club, not a class), I learned NOTHING about money in school. I’ve learned a lot from my parents, some through research, and plenty the hard way…
StarletStarlet says
The accounting classes that I had during highscool and college is something that I must brush up on. I liked playing with numbers – but at the time, I didn’t really see the big picture yet, I wasn’t quite sure what the practical application would be like, until I’m in front of my spreadsheet trying to figure out balance sheet and COGS!
I think when I have a much more solid foundation with my business (and more budget for operating costs) a help from someone like you would be very helpful, Helena.
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