Financial Education in High School by Kyle

Financial Education in High School by Kyle - August 2015 Scholarship Essay

We all grow up accepting the existence of money, but why are we never taught about it? About one year ago, I was sitting in a car dealership office. I was purchasing a car in cash. At the last moment, I realized I did not even know how to write a check. I pulled out my phone, and filled out my check with the help from Google. If I could add a subject to the American high school curriculum, I would add budgeting and finance because it is essential knowledge to function in today’s world.

Most students can go through 12 years of public school without ever learning how to balance a checkbook, how do taxes, about taking loans, and about saving and investing. Once many of these students enter the real world, there is a big shock and a lot of confusion. After graduating high school, many students will take on their first job. They face having to do taxes for the first time. Later on, some might choose to buy their first car. Some might take loans and pay interest. None of these practical life skills are taught in school. Some end up making bad choices due to lack of education in this area.

Even though it may not seem like it at times, the average American makes quite a bit of money over his/her lifetime. Despite decent wages, saving accounts in America are generally pretty low, and many Americans have sizeable debt. I believe teaching practical life skills like proper personal finance education can help solve this problem and go a long way. In general, when a person does not have to worry about money, they are less stressed and happier. I have seen my fair share of my parents feeling stressed growing up due to lack of money. Teaching Americans from a young age how to plan and budget well can help resolve these issues.

I am a strong believer in financial education and the benefits that come with it. Because of that, I would add budgeting and finance as a subject to the American high school curriculum.