The Rule of 72 by Jonathan

The Rule of 72 by Jonathan - August 2015 Scholarship Essay

The most devastating sin America’s education system commits today is the lack of introducing ANY financial topics within the high school curriculum. I am ashamed and utterly embarrassed that the United States, one of the biggest economic powerhouses of the world, cannot grant its students access to a financial course that, arguably, contains material on some of the most impactful decisions of any young person’s life! With financial knowledge, students can better prepare themselves for whatever life throws at them. From budgeting weekly groceries to determining the right investment plans, a financial course allows students to consider key factors that can save them from the headaches of financial burdens, dependency from someone else, and thousands of dollars throughout the course of their lifetime.

Today’s high school curriculum has incredible resources that can aid students in so many different ways, but it lacks a key aspect pertaining not just to students, but to everyone in our global community. The rule of 72 is a basic financial ratio that basically tells you how long it will take your money to double at a given interest rate. I believe the same rule can be applied to a students capabilities within their education. With just a couple semesters of finance, a student will have doubled his or her ability to grow into a successful human being. In understanding how to handle your finances, an individual becomes more responsible and keeps a keen eye to the different types monetary risks presented to them throughout their lives. An understanding of finance should not be limited to those pursuing a college degree. It should be introduced in their high school curriculum just as the young students are transitioning into an adult ready to handle credit cards, take loans, plan for retirement, and much, much more. Learning about and being in control of your finances allows for a much wider span of freedom and ultimate peace of mind.