Parents Aren’t Good Financial Role Models

I don’t understand why we don’t teach some personal finance basics in high school. Before you think that would be over a 17-year old student’s head, my high school had us do an economics course where you enter a mock stock market competition.1

When you’re that young is the time to start thinking about this stuff. Too many people in their adult lives live to regret financial decisions they made in their early adult lives.

We leave this kind of education to parents, but studies like this make it clear that doing this ensures that each generation rides a wave of debt and bad advice, if they’re taught anything at all.

I think the difficultly in teaching personal finance to young people isn’t really about personal finance. It’s about teaching someone who’s just getting their first paychecks that it might not be smart to spend $100 a weekend on movies, takeout, bumper cars, and pimping a ride, or whatever these teenagers do these days.

Does planking cost a lot to do, or coning?

  1. My team was doing pretty well, like in the top 500 of all teams nationwide, until this happened. Then we were living on the mock streets.