Personal Finance In High School Essay

Improved Essays
Imagine yourself going to college, or moving out of your parent’s house without knowing anything about how to manage your money, make a budget, save money. It can be depressing. Most people say they learn personal finance by talking to their parents, who were also never formally educated about personal finance. High schools, however, are tremendously into making students college-ready, they failed to teach basic life skills, including financial literacy. So I think River Ridge High School should require students to take a financial literacy class before graduating to prevent misuse of money and it will be a class that students will be using for the rest of their lives, unlike other math or science subjects.

To being with, in the past, personal finance was only mandatory in one state: Illinois (Source A). But as the years go by, high schools finally discerned that importance of personal finance. Currently, there are 17 states in the US now require at public high schools take a finance class before they graduate. This shows that adults acknowledged the significance of learning finance in high school, therefore they want their students in the future know how to save and handle money. Statistics show that 85% of American parents thought that a personal finance course should be a high school graduation
…show more content…
These reasons are valid, and teaching financial literacy can be challenging, because of different students with different backgrounds. We can all admit that money is the number one thing that young people really stress about. But learning and requiring financial class will prevent and decrease the amount of debt Americans owe and they will know how to control when it comes to

Related Documents

  • Improved Essays

    and that the investment would far outweigh the effects as education would be unable to counteract the non-rational determinants of the financial world and its behavior. However, recent studies by two organizations that help provide financial literacy curriculum: EverFi along with Higher One, have shown that financial literacy education being taught in high school continues to positively influence student’s relationship with money and money management well after they graduate. The study was conducted on 65,000 students. The study showed that “students who took a class did better on the survey’s financial knowledge questions, were found to be more averse to debt, more likely to pay credit card bills on time, and less likely to go over their credit limit” (Malcolm, “Financial Literacy Education Has Lasting Impact”). Essentially, providing students with the know how on properly dealing with their finances in school better prepared them for real world finances and helped them to make responsible decisions that were made even more evident when compared to the decisions of their peers who had not taken the…

    • 836 Words
    • 4 Pages
    Improved Essays
  • Improved Essays

    Most importantly it is more crucial to not borrow an excessive amount of money because the options we have buy things are endless. Money is very valuable and we have to learn to take care of every dollar we spend. I don't ever pick up any penny or dime i find on the ground because I know there is someone out there with bad financial credit. These are only a few out of the several reasons why it is crucial to maintain a good financial credit during your college years. Let’s also not forget to turn our heads away from businesses begging us to take out a loan or a spending card for their business because of our good financial credit.…

    • 635 Words
    • 3 Pages
    Improved Essays
  • Improved Essays

    Essay On College Debt

    • 1286 Words
    • 6 Pages

    Even with some who favor college debt as a necessity and will only be temporary, the negative effects of owning a large sum of money while also focusing on achieving a higher education surely outweighs the pros of college tuition. College debt affects students’ mental health, their performance in school, and also decrease social interaction in an effort to maintain decent grades and a secondary job to payback their loans. In addition, making college free will provide an opportunity for everyone, rich and poor, to receive a higher education. With more educated citizens in the United States, the rate of those living in poverty will lower and the country will prosper. Higher education is vital for the success of the United State’s economy…

    • 1286 Words
    • 6 Pages
    Improved Essays
  • Improved Essays

    Everyone struggles with student debt, but the key to paying it all back and not getting to in over your head with all the loans and debt is being smart with your money. When it comes to college make sure you know how much you can afford and what it too far out of the budget. In order to avoid huge loan debt as a student I will focus on colleges that are reasonable in price and not too far out of my price range but also offer my major. I will research schools and make sure they are a good fit before attending and paying money for a school where I’m not happy. I will look at colleges and see what scholarships are offered at each one.…

    • 617 Words
    • 3 Pages
    Improved Essays
  • Improved Essays

    In his article, The Credit Card, George Ritzer explores the development of credit cards in American society. A credit card’s appeal is its immediate and easy access to funds where they otherwise could not be obtained. American people use this advantage to take advantage of money saving opportunities they were not prepared for, use for emergency situations, and even to live above the lifestyle they would normally be able to afford.(Ritzer) Even when I was younger, I remember my parents pausing during transactions to remind me to never spend money that I didn’t have. My mother was constantly vigilant with her finances, and only used her few credit cards to keep up her high credit score.…

    • 309 Words
    • 2 Pages
    Improved Essays
  • Improved Essays

    Student Debt Essay

    • 769 Words
    • 4 Pages

    Millions of post-grads find themselves with student-loan debt in amounts that are outstanding. While the Pell Grants and other forms of aid exist, balances amount so high that students find them paying them off near their later years in life such as fifties or even sixties. Many claim that jobs acquired after attending college to not supplement enough for a successful lifestyle and for payment of this debt. This leaves many to question the the worth of investing in a higher education. Does it pay off in the long run, even with tremendous student debt?…

    • 769 Words
    • 4 Pages
    Improved Essays
  • Improved Essays

    After reading over all 12 assigned chapters and even some that were not assigned, I have come to the conclusion that I can make some changes to my own financial standards to improve. I truly feel and believe that everyone’s financial statuses can improve with direct leadership, guidance, and determination. It is obvious that we do not live in a perfect world, therefore, nobody in this world is perfect, neither is their budget, including those in better financial…

    • 789 Words
    • 4 Pages
    Improved Essays
  • Improved Essays

    Essay On Student Debt

    • 1075 Words
    • 5 Pages

    Student loan debt has increasingly become an issue, not only for those who have acquired it and must deal with it, but also for the economy. To function normally in today’s society, pursuing a college education is a requirement for those who want a high paying job. With this decision, students also decide to take on large amounts of student loan debt and the long-term turmoil that it inevitably leads to. Student loan debt impacts students purchasing power which negatively impacts the economy. Over 42 million people owe $1.3 trillion in student loans (Rosato).…

    • 1075 Words
    • 5 Pages
    Improved Essays
  • Improved Essays

    Student Debt Essay

    • 1168 Words
    • 5 Pages

    Game of Loans Education should not be a debt sentence. However, according to Mark Kantrowitz in The Wall Street Journal, the average student this year will have to pay back more than $35,000 in student debt (Sparshott). Statistically, that is more than buying a new 2016 car or truck, which averages around $33,560. For a college student that is just graduating and makes less than 30K a year, that is outrageous!…

    • 1168 Words
    • 5 Pages
    Improved Essays
  • Decent Essays

    My Mom Should Get Away

    • 503 Words
    • 3 Pages

    My moms name is Kimberly, she is 36 years old. She has a credit card and has had a lot of experiences with money and money issues. I interviewed her because she has a lot of experiences with money since she works on taxes and works in HR. My mom is very intelligent with her money and spendings, which made me want to interview her even more.…

    • 503 Words
    • 3 Pages
    Decent Essays
  • Improved Essays

    Learning about personal finance and economics is crucial for anybody to learn in order to make good financial decisions both right now and in the future. After taking economics, I have chosen the five most decidedly important topics that we have studied throughout the semester, which include: Budgeting, different types of insurance plans, how to have and manage good credit, how to write a resume, and finally how to pay taxes. Each of these topics relate to each other in someway and without knowing how to budget correctly, for example, you wouldn't be able to have good credit. Also, each of these topics is important and relevant for a specific reason pertaining to the fact that they will help me manage my financial decisions from here on out.…

    • 1334 Words
    • 6 Pages
    Improved Essays
  • Improved Essays

    Banking education makes students repeat and memorize what the teachers say without understanding. It turns students into receiving objects who don’t have any opinion. It’s similar to when you deposit money in a…

    • 830 Words
    • 4 Pages
    Improved Essays
  • Improved Essays

    If we took further action teaching high schoolers how to deal, finance, and manage their money we could save the many Americans on big issues regarding money. “Financial education supports not only individual well-being, but also the economic health of our nation … Consumers who can make informed decisions about financial products and services not only serve their own best interests, but collectively, they also help promote broader economic stability” (Page). Many teens have jobs and pay taxes, and need to know how to fill out forms and file them themselves. Another example is learning how to save their money, so they can be able to buy a car or even a house.…

    • 750 Words
    • 3 Pages
    Improved Essays
  • Improved Essays

    There are many reasons on why saving and budgeting is great to have. Knowing how to finance money is important and many people don 't know how to begin or when. In the book, Personal Finance for teenagers and college students By Tamsen Butler the author explains many ways to create a personal finance. This book is recommended for everyone but mostly concentrates in teenagers and college students. Throughout the book the reader can gain more knowledge on maintaining a budget they wish or a savings account to start and so much more.…

    • 798 Words
    • 4 Pages
    Improved Essays
  • Improved Essays

    However, going out every night, eating at fancy restaurants, and skipping class would not be a smart choice but is one that many college kids are making. Financial literacy is an important thing for our current generation to learn. The ability to use knowledge and skills to make effective and informed money management decisions is something every teen should learn before they live on their own. By becoming a better youth today we can build a better future for…

    • 762 Words
    • 4 Pages
    Improved Essays