Reasons For Teaching Personal Finance in High School

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When children go to school, they are expected to learn the skills that will train them for life in the big world outside. Yet, even though they learn math, English, French, and even sewing and cookery, they are seldom taught the secrets of personal  finance .

This can be a huge mistake as one of the first things that you need to do when becoming independent and setting up your own home is to run your own  finances . Without basic knowledge of  finances , you could be headed for trouble. Very often, for example, young couples starting out on their journey together often find themselves sinking into a morass of debt very fast. The reason for this is they have never learned the basics of personal  finance . If these skills are not learned fast, their debts could snowball until they lose their homes, the few assets they had, and possibly even their marriages.

If no one has explained what happens if you go overdrawn, the importance of saving a little as you earn, even just $50 per month, and the need to be very careful when using credit, it is hardly surprising if you fall into debt. Trying to run your own home without such skills may well be doomed to failure.

For this reason, even when youngsters are still at high school, they should be taught these principles. It won’t be long before they are at university or starting a job, and even if they are still living at home at this point they need to acquire life skills in order to become independent. This is therefore the time when they need to learn how to live within their means and how to save – before they are actually out in the world and can get burned.

Starting life with a basic financial knowledge will make all the difference as to whether or not this will be a successful beginning.

Source by Beth Dedrick

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