Bobcat Attack - Ohio Basketball - The Post on the CIT

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Topic: The Post on the CIT

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C Money

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C Money

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Posted: 6/13/2014 3:31 PM

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JSF wrote:expand_more

Because if there's a crowd willing and eager to learn financial responsibility, it's high schoolers.

FTFY:
Because if there's a crowd willing and eager to learn anything that doesn't involve music, computer games, social status, or power tools, it's high schoolers.

anorris

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Posted: 6/14/2014 12:12 PM

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I'd read this a couple weeks ago, seems relevant here: http://www.nytimes.com/2014/05/24/your-money/a-high-schoo...

I also liked ACCT 101 a lot (took it as part of a minor in Business), and strongly agree that basic financial literacy should have a place as a requirement in high school (and probably college as well).

I was required to learn to sew a pillow in high school, built a stool out of wood, among other things. I'm not saying those things don't have a place in schooling, but are they more or less useful to an average person's overall life than learning time value of money and how to evaluate offers for financing, or at the very least explaining how to avoid the worst of the worst financial decisions, like payday loans and rent-to-own?

For what it's worth, I did take a very basic class on business/finance in high school, as an elective (it was a small group of us).

Monroe Slavin

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Posted: 6/14/2014 2:00 PM

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Achieving the CPA designation should be a requirement for citizenship.

By the way, being a CPA does not necessarily mean that one is good with personal or business finance or understands business operations.

The Optimist

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Posted: 6/14/2014 2:33 PM

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bornacatfan wrote:expand_more

JSF wrote:expand_more

Because if there's a crowd willing and eager to learn financial responsibility, it's high schoolers.

Oddly enough, the kids I have been interacting with the past 10 years seem to be increasingly more aware of personal finances and cost of things as well as better at making money decisions than the previous 2 decades. I am not sure if the economy and the increase in kids with jobs has anything to do with it or if the next generation's obsession with getting rich has anything to do with it but there is a fundamental change in how they handle and think about money.

For younger adults and kids today, I think a big part of it does have a lot to do with the economy of the late 2000's. You look at the generation that grew up in the great depression back in the 1930's... Their habits with money were well documented and were heavily shaped on the times they grew up in. While the recent financial crisis wasn't as bad as the great depression, I think the recent downturn really had a great influence on the way kids growing up during the recent downturn view their own finances and spending habits.

I agree with the thought that requiring a personal finance class in high school would be a good idea. Everyone has to deal with money in life, no matter where you go from high school... Kids who go straight into a 9-5 job, kids who go to college, kids who join the military... They all have to have some understanding of how to manage money. I think a personal finance class required for all HS Seniors explaining the basics of a mortgage, car loan, insurance, interest rates and saving for retirement would do wonders. My Senior year in high school in the state of Ohio, I had to take Economics and Government. While Economics is important, I think for your average kid a personal finance class is on the similar track and would probably be more beneficial to them.

Last Edited: 6/14/2014 2:35:03 PM by The Optimist

perimeterpost

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Posted: 6/14/2014 5:36 PM

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my high school offered a class for seniors called "Singles Living" that taught you how to balance a check book, create a monthly budget, shop at a grocery store, do laundry, stuff like that. I took it as a blow off course but it turned out to be pretty useful. I remember how odd it felt to actually learn something in school that I might use in the real world.

TheBobcatBandit

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Posted: 6/14/2014 10:46 PM

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Took ACCT 1010 this last semester. Never studied so much in life. Really learned a lot about many different aspects of business in that class.

Business_Cat

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Posted: 6/15/2014 8:35 AM

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The Optimist wrote:expand_more

From an educational standpoint, requiring that all students take Accounting 101 would be amazing. The concepts taught in that class are a great basis to develop your personal finance habits around as you move into the real world.

That said, hardest class I ever took. By far. Making that a requirement would create mass havoc.

It is, along with Acct 102, a requirement for all business majors.

Andrew Ruck

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Posted: 6/16/2014 9:23 AM

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JSF wrote:expand_more

Andrew Ruck wrote:expand_more

I don't know about requiring ACCT 101, but I have been saying for years that high schools should require a personal finance class. It would do wonders.

Because if there's a crowd willing and eager to learn financial responsibility, it's high schoolers.

If that is our criteria for required curriculum then we should just burn down all the high schools.

colobobcat66

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Posted: 6/16/2014 3:24 PM

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This thread has officially been certified as "Hijacked"

Last Edited: 6/16/2014 3:24:49 PM by colobobcat66

Bobcatbob

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Posted: 6/16/2014 4:15 PM

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Monroe Slavin wrote:expand_more

Achieving the CPA designation should be a requirement for citizenship.

By the way, being a CPA does not necessarily mean that one is good with personal or business finance or understands business operations.

I will triple, double endorse the comment about "CPA" being no indication of basic skills of finance or business and I have the battle scars to prove it. Let the buyer beware. H%$#, I can't even add without a machine.

More important to me is that the first suggestion flies directly in the face of the real purpose of this and other professional designations, which is for the incumbents to to control the field of potential competitors.

Deciduous Forest Cat

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Posted: 6/16/2014 9:26 PM

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