My son is a high school senior. His sister is a high school junior.
This year, each of them is taking a business class. My son is taking Principals of Investments this year. My daughter is taking Personal Financial Management this year.
You would think that by the look and sound of the class descriptions, they both are in good hands for this school year. Everyone wants to learn the principals of investments, right? Who would not want to learn more about personal financial management?
My experience based on what I see in their textbook and homework assignments would suggest otherwise. My kids are not getting enough information and knowledge on what it is going to take for them to manage their own money some day.
No offense to my kid’s teachers. I appreciate everything that they have done in the past and that they do now on behalf on my kid’s education.
I think that the problem is not with my kid’s school, my kid’s teachers, or with my kid’s textbooks. I think that the problem is with the Minnesota state education system.
Someone on a Minnesota higher education board does not understand what it takes to get young kids proficient and education with managing their own finances. How could they? That person or group of people probably did not get the right amount of personal financial education when they were in high school.
The standards that have been set for securing a student loan, managing personal finances, getting a mortgage, managing credit cards, and balancing a bank account are not high enough.
What I see my kids studying and learning in their high school business classes is not enough.
I did not get enough education and training managing my own finances when I was in high school. My kid’s are now in the same place. It is very sad to live through this same experience again.
Just about every investment crisis that I have seen in my adult lifetime is the direct result of a lack of basic investment background by adult investors. Nothing is being done to change that lack of education with high school students today.
Ric Lager
Lager & Company, Inc.
