Why Adding Personal Finance to High School Curriculum is the Best Thing for Students
As students prepare for their future careers, the importance of understanding and managing personal finances cannot be overstated. Regardless of whether they choose a traditional career path, entrepreneurship, or starting a family, students will need to navigate a complex financial landscape to achieve their goals.
There are several reasons why schools should add personal finance to their curriculums. The first is simply the tremendous financial burden that young adults face. The average American household carries nearly $140,000 in debt, with millennials carrying an average of $27,000 in student debt and $4,000 in credit card debt. While many students live at home during high school and college, they will eventually need to learn how to pay bills, save for the future, and avoid getting into debt.
Another reason why schools should prioritize personal finance education is the rise of the gig economy and the self-employed. As businesses become more decentralized, more people are working independently and building their own careers. These individuals must not only keep track of their finances but must also understand how to pay taxes, save for retirement, and protect themselves from financial liabilities.
Finally, personal finance education can help students learn life skills such as budgeting, investing, and money management. Many students may struggle with the arbitrary nature of math concepts, but personal finance is a real-world application that can help make math more meaningful. By connecting financial skills to everyday life, students can learn important life skills that will serve them well in adulthood.
In conclusion, adding personal finance to high school curriculums is the best thing that schools can do for their students. Not only will this education help students avoid debt and navigate the complex financial world, but it will also give them important life skills that will serve them well throughout their careers.
