Why is money management not taught in school?
I'm in my twenties and felt like a total idiot when I didn't know what a mortgage was, what interest was, what overdraft meant. Yet I have to know what x equals and what y equals.
- A.J.Lv 76 months agoFavorite Answer
Courses are available at college level. Public schools in the USA have generally been dumbed down, where high school graduate today knows a lot less than typical ones of years ago. Funding has also eliminated anything but basics from most schools.
There are several levels and sections of financial management and economics.
Credit and credit management
Personal finance and investing
Business financial management
I received my first share of stock as a birthday present from my uncle when I was 13 years old.
I've invested my whole life and retired young 10 years ago. I'm very disappointed at the idiot in the White House using 1960's and 70's methods which only crash us today. He hasn't got a clue about how economics really works because not only is he obsolete, but ignored most of the subjects at a prestigious school. I have an MBA with a 3.5 GPA and worked in Procurement Engineering for 30 years at major global companies.
I can offer my view of why certain subjects like finance and economics are avoided in public schools.
Since 1979, all of the USA growth in wealth has gone to the top 20% of wealthy people. Though a few were able to move up into the ranks, we can point to the population growth and still hold that the top 20% has it all.
January 1980 minimum wage $3.10
Adjust for inflation by Consumer Price Index and should be $10.22 in July 2019, instead of $7.25
CPI does not account well for medical, rent and home pricing, education expenses, all which are higher than inflation. The working poor are cheated by 40+% compared to 1980.
Without a lot of detail, you can look up verification and you will find middle household incomes have risen just a hair over inflation, and that includes more incomes per household.
The top of the USA has grown far faster than inflation, with average CEO total compensation going from 30x to 350X the average worker.
The skew of wealth has been a diversion of money to rich people.
The National Debt bonds are owned by rich people mostly, either directly or through the companies and stocks they own. Rich own 80+% of public company stocks.
I hope I was short and clear enough and it is easy to verify it. In order to siphon all the wealth into the top, there has to be a control of government, media, public education. The people in charge don't want you to understand money and wealth. They want you complaining about immigrants, homosexuals, atheists, racism, religious freedom, and anything but financial systems and power.
In 2018 calendar, for example, after the tax cuts, Federal Debt rose
$20 Trillion 493 Billion as December 29th 2017 to $21 Trillion 974 Billion December 31, 2018
That is $1 Trillion $481 Billion of extra debt, and it was all purchased by USA individuals and companies, because foreign owned debt did not increase.
If you understood finance, you might ask the question "Where did $1.5 Trillion go?"
Now, although high level finance takes a deeper understanding, they don't want people to even get an interest in the subject. You should not feel like an idiot. You should feel cheated. If you are not in the USA, you will find similar issues in many countries.
I am sorry I wrote in a way you probably didn't expect. The true power today doesn't want you to understand too much about economics or you may disrupt the siphon of money flow. It isn't an illuminati, because the people are in the news and very public every day. One named David Koch died today.
You should find someone knowledgeable and trustworthy to sit down with you, and learn as much as you can.
- RichardLv 76 months ago
In my state of Illinois, a one-semester high school course in consumer finance is required for high school graduation. The kids are still economically illiterate.
- RICKLv 76 months ago
It is in many places but as an elective not a required course
- JudyLv 76 months ago
It should be, since not everyone learns it from their parents.
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- Anonymous6 months ago
Most people get a part-time job when they are 16 and they bank their income and begin "managing" it right away. You are not like most people. Open your eyes and ears. Pay attention to life. There's no excuse for being in your 20s and so ignorant.
- SumDudeLv 76 months ago
It is taught - in algebra class. Read, pay attention to business ads and articles and then substitute real numbers in for x and y.Source(s): Math trains the brain.
- JohnLv 76 months ago
In California there is a push to do exactly that.
- MichaelLv 76 months ago
It is in some places, but not everywhere. In my state it's a required year long high school course.