Beruflich Dokumente
Kultur Dokumente
Tonja Vincent
English 2010
December 2, 2017
Financial literacy is a very important subject that should be studied while attending high school
or even earlier. Every High school student should know the basics, such as budget planning, how
a disc works, how to invest money, its a life skill that should start developing in High school, or
even earlier on so when they so call leave the nest they will be ok and know how to manage
finances. It all starts when we get our first allowance we learn that we can spend our allowance
on anything we desire from candy to a small toy, we also learn that if we dont have enough
money we cannot buy that object that we so much desire. Its never too early to start saving-
adcouncil The same goes for learning. We may take a class, or we may not it all depend on the
works with school all round Utah. This program helps the student have a taste of what adult life
is all about, for example what its like to run a business and what its like to pay some bills. to
provide mentors to our young people to empower our students to help them learn the principle of
free market capitalism and the skills they are going to need to compete to ensure that Utahs
Financial literacy defined by the president advisory council, the ability to use knowledge and skills
to manage financial resources effectively for a 52lifetime of financial well-being. pbs (2008 Annual
Again, why it so important for the younger generation to learn, why is it needed. Well Financial
literacy helps individuals become self-sufficient and understanding the basic of financial areas;
from managing personal finance to business finance, managing your money to saving money,
making the right decisions, investing, insurance, budgeting, retirement, taxes. financial literacy
is low among the young; fewer than one-third of young adults possess basic knowledge of
interest rates, inflation, and risk diversification. -NBER. Right out of High School, some
graduates dont have a single clue on how to manage their own money or even have the basic
skills. They get a job but dont put the hard-earned money into savings account or they just pend
it right of the bat then they wonder there it all went. Some still want to attend college and
university, they take out student loans and end up in debt. Even after they graduate from college
or university they are still pay their student loans when they are in their late twentys.
The young adults today have an example of what the past generating did that got them in
financial trouble and what they went through. In 1980 consumers spending soared and interest
rates dropped, they found themselves in debt and even some declaring bankruptcy. Around 1990
and 2000s lots of people were buying house and ended up losing them because they could not
afford to make the payments. They ended up losing the house and in debt.
An example that relates to me and how financial literacy helped me right after high school. The
fall right after graduate I was to attend college and I need to not spend my money on
unnecessarily things, such a new school clothes that most kids look forward to the new school
year. I knew that I was going to need to buy: textbooks, Homework access code and depending
on the class maybe some other things like a calculator or other materials. I made a list of all the
material in need asap and the other stuff that I could buy as the class went on. Because I took
financial literacy in high school I knew how to save my money, which is a big problem for me
because I love to go shopping, I prioritized what I first need to get. Its true that just taking the
class in high school does not teach your everything, that were my parent came in to help.
Americans own over $1.45 trillion in student loan debtthe average class of 2016 graduate has
overcrowded it causes the students to not learn the matter. Overcrowded classroom means that
there a fewer teachers/teachers that dont finish as a student teacher because there are so few
teachers that they are needed, and it does matter if they finish or not they need to be hired or
insufficient space/classrooms for all the students. The reason why there are a few teachers is
because being a school teacher is not the most popular profession, why because the pay is not
that great. With few teachers students are put in overcrowded classrooms, and to understand
financial literacy and whatever topic they are covering students need 15 or more hours of the
lecture/activates to be beneficial to the students. In the United states, out of all 50 states only
20% of the states meet this standard. Its clear to see why students arent benefiting from taking
the course. But it could improve because there are programs that are nonprofit that help students.
Works Cited
Cowin Financial Literacy Program: 2015 Financial Literacy Summer Institute (July 6-10)
https://cowinfinancialliteracy.tc.columbia.edu/2015/03/03/2015-financial-literacy-
summer-institute-july-6-10/
Financial Literacy among the Young: Evidence and Implications for Consumer Policy|
"General Financial Literacy Course - FITC - Finance in the Classroom." Web. 30 Oct. 2017
http://financeintheclassroom.org/teacher/course.php
Is Your State Making the Grade? Report: Making the grade | Center for Financial Literacy
https://www.champlain.edu/centers-of-excellence/center-for-financial-literacy/report-
http://ja-utah.org/
"Report: Utah only A+ state in financial literacy for students | Deseret ...." 20 Oct. 2015,
https://www.deseretnews.com/article/865639513/Report-Utah-only-A-state-in-financial-
literacy-for-students.html. Web. 30 Oct. 2017.
Student Loan Hero | A Look at the Shocking Student Loan Debt Statistics for 2017
https://studentloanhero.com/student-loan-debt-statistics/