A fellow crusader in helping others with their personal finances, Consumerism Commentary, wrote an article titled "Should High Schools Require Money Management Classes?".
The short answer?
I do not know of a single instance where a child should not be learning how to manage their money in the public school system! I went through K-12, and they gave me a high school diploma. For the next four years, I went through engineering school at Purdue University, and they gave me a degree in engineering. I then went through three years of graduate school at Clemson University, and they gave me a degree in business administration.
Let's add that up.
K-12 (13 years) + Purdue University (4 years) + Clemson University (3 years) = 20 Years of Formal Education
I knew a lot about calculus, physics, business management, and anthropology PLUS I had enabled myself to earn a really nice income, but I knew VERY LITTLE about what to do with that income once I received it! As a result, I spent the first few years spending more than I brought home and digging myself a really nice financial hole.
Look, it is great that we learn about biology, math, anthropology, and art in school, but when we learn all of that and do not receive any sound financial training, something is out of order!
NONE OF THIS eliminates the fact that we, as parents, need to be instructing our children about money as well! Public education should be a great partnership between the parents and children to ensure that the child becomes a productive citizen and wins financially!
Other Articles on www.JosephSangl.com regarding Children and Money: