Personal Finance - Teaching Financial Responsibility in High School by Corinne

Personal Finance - Teaching Financial Responsibility in High School by Corinne - August 2015 Scholarship Essay

Personal Finance - Teaching Financial Responsibility in High School

“Money, money, money,” as the Abba song goes, “must be funny in the rich man’s world,” but the truth is that money can seem a funny thing to all walks of life. Money can be exciting, frustrating, confusing, and taxing, and that is why Personal Finance should be a part of the high school curriculum. Some kids are given an allowance through high school; some kids spend only at the will of their parents; and some kids work to earn a living. But the situations in which young adults receive and spend money do not necessarily make them any more financially prudent. It is important for students to start understanding the world of finance and how to be responsible with money from a young age if we expect the next generation of leaders to make positive change in the financial status of our nation.

How to create a healthy budget should be just the beginning of the course. Students should be taught about the importance of saving for retirement from an early age, and how deferring some income now could be exponentially beneficial for their future. While some students get exposure to the stock market through “classroom competitions to invest in the best securities,” all students should have exposure to the different types of investments, how they operate, and how to invest according to their age and income. Personal Finance is a course that people of all ages could benefit from, and the earlier you learn about financial responsibility, the more impact it will have in your life. Math class will teach you how to add up what you will spend on some new clothes, but Personal Finance will teach you how to invest your money in something infinitely more valuable—yourself.