Who taught you about money?

[PennyPincher]

Re: Who taught you about money?

As a previous middle school and high school math teacher, I am a HUGE supporter of financial education in the schools. I feel that it is the right place for such instruction. I feel that although the concepts can easily be integrated into other subjects, it can warrant standing on its own. Most schools take kids out of gym class for one semester to learn about health ~ justified by its long-term effects on the student lives. Well goodness, I think a semester of financial education could EASILY be justified. That is probably what could make me go back to teaching ~ if a district would allow me to teach financial responsibility. Teachers do not see things the way the government does with spending, believe me! Most of us live below our means, without defecits that resemble that of the U.S...

[akaivyleaf]

Re: Who taught you about money?

I've read a lot, the older I've become. My Great Grandparents (who raised me) had money and I never saw them budget or discuss money. I do know that my great granddaddy said that my great grandmother was his queen, and whatever the queen wanted she received. She said he was the king of her castle and if you keep the king happy you get whatever you want. Well that was their fairy tale and not reality so... I've read books, I've seen what people have done that I disagree with and what they do I agree with. I mainly do by trial and error until I stumble upon something that is right for my situation and go with it.

[PrincessPerky]

Re: Who taught you about money?

I am so sorry if I sounded insulting to teachers. I fully respect anyone who enters into the teaching profession. I love teaching. I even used to get paid for it. I know that there are many dedicated teachers out there who are excellent at their work. Some are lucky enough to have kids or adults who want to be there, some are very good at making them want to be there.

But requiring the government to implement a health class isn't helping country; there are more obese kids now in America than before. (And many more health problems) so requiring a money class isn’t likely to help either. I do think that of all the things America wastes money on we should be wasting some on voluntary education. NOT mandatory. Voluntary classes on filling out taxes, reading, and money management would really help out many Americans. NOT MANDITORY, VOLUNTARY (sorry to sound like a broken record, but I am so serious here)

I didn't teach anyone anything by making him or her sit down and listen to it. Not that it is impossible to do, just that I have learned and taught more when I or the student was ready, than ever would be possible by force. I also did all my learning listed above (earlier post) voluntarily. I fully support the idea of learning about money. Just not making it mandatory. It won’t help much if it is mandatory.

The only thing my parents made me do (mandatory) money wise was put half away for college. I don’t know what I learned from that since I am terrible at saving. On the other hand, by watching them, reading books, talking to some people good with money, searching out Internet help, (voluntary) I am learning to get back on track with my money.

I insist that my son learns to eat with a fork (mandatory), it is going lousy, on the other hand he asked to learn to read (voluntary), it is going beautifully. He is two and reads better than most first graders in America. Now if I could just take my own advice and back off on the fork, we might have less temper tantrums .

[Miz Pat]

Re: Who taught you about money?

I taught myself, although my father did teach me how to figure price per unit when shopping for groceries.

My dad worked in a factory and one year they told me that because there had been a strike, we wouldn't get much for Christmas. I had saved $50 (I got $5 a week in allowance and I socked it away for the strike happened), and I went through all the newspapers and checked prices for toys for my younger sister. I got a good list for her of what she really wanted, found huge savings at several places my parents didn't shop at and found a way to get to those stores without our family having a car.

On Christmas Day, I decorated the tree with little elfin dolls she wanted that came in ornaments and got her basically the best Christmas she'd ever had. My parents spent $50 on her and got way less (I got 3 to 5 quality items to their one because they insisted on shopping at neighborhood stores). I was oldest and they spent even less on my gifts, but I was only a bit disappointed. I had learned about the wonders of comparative shopping (as well as finding out what she really wanted - Mom and Dad weren't as good at that). And I really enjoyed making the holiday for my sister, who was and is a doll.

Because my parents didn't practise saving money, they were always in trouble when there was a strike or a big repair or sickness. I learned then to budget and save.

My second lesson in economy came when my husband got laid off the day before our wedding. We went from 1 and 1/2 incomes to 15 hours a week of my income from working in a library while I was finishing junior college. We moved in with my parents (aiiii!!!!!!!!) and purchased tons of dry goods, like flour, oil, sugar, rice, etc. for the last $80 of his paycheck (we went to a local food co-op! God Bless Co-ops). After that we ate on $10 a week. He lost weight and I gained weight and we both got healthier. My staple was 100% wholewheat bread I learned to make from scratch and cheese.

When we finally had enough income to buy meat again, we went to Burger King and got violently sick.

People waste so much money and credit on time-saving items or purchasing things the easy way. I learned to wait, learn about what I wanted, to comparative shop and to save for my goal.

Pat

[akaivyleaf]

Re: Who taught you about money?

PrincessPerky,

Force feeding something to someone rarely works unless they are incapacitated. Setting an example is a far better teacher. However, its good to set that example in the classroom if possible, whether that classroom is at home, or in a school setting. No child picks up everything taught in school, but just hearing about money management, learning about compound interest, investments, stocks, bonds, mutual funds, having those words as part of vocabulary will sink into the subconscious and prove beneficial later on.

[PrincessPerky]

Re: Who taught you about money?

So talk about it, please do. Talk to friends, talk to neighbors, talk to nieces and nephews, talk to the kid skateboarding on the street. Whatever. Call a radio show about it, call oprah and ask her to talk about it. Anything would be more effective than public schooling! Write the local newspaper, write a chain letter (first person to get on snopes wins the prize , write a congressman, tell them to talk about it. Just don't use tax money on inefficieant means! Give the gift of knowledge, to the paperboy, the hairdresser, your massage therepist, or office assistant (sorry just read this ) Just don't make them pay for a chance of maybe forcing one kid in 20 to learn. Start an anti creditcard campaign, do a get out of debt pay-a-thon, whatever, just please no more tax money! (boy thats alot of weird ideas in short rant)

[akaivyleaf]

Re: Who taught you about money?

Adding a few definitions to a math class and using a budget as an example when doing simple arithmetic won't add any more to your tax money. The same things can be combined in home school curricula, as a matter of fact, A Beka has incorporated it.

But I get your point, if its to be taught, its up to the caregiver.

[terry1156]

Re: Who taught you about money?

I think a personal finance class in schools could be done with no extra expense and the kids would be clamouring to get into the class. Just name the class, "What you have to do to be a millionaire" and I bet it would be the most popular class in school!

[PennyPincher]

Re: Who taught you about money?

I think the case for so many people is that they simply don't worry about budgeting and bargain shopping until they are closer to dire straights. I was blessed to see great examples growing up, and one of my 'chores' was to cut coupons out on Sunday mornings. I still get a kick out of seeing how much money I can save shopping. With every passing year I am more and more grateful and amazed by what my parents did on relatively little. I earn more now at 29 than my dad ever did, and yet they have 3 mortgage-free places, 2 of which are bringing in rental income. I agree that examples are best, but also wish there were a successful outlet for instruction. Maybe a college elective? Who knows... this conversation makes me want to go teach a class at the local rec center!

[PrincessPerky]

Re: Who taught you about money?

Lots of people make money dong 'classes' like that. They had one around here in my comunity awhile back. Of course the 'classes' are more about selling a partiular book or something. but I bet you could do one of those classes, don't some community colleges or whatever have a system where you register to teach a class and they split the money with you? I htought I read about hat awhile back. I wouldn't know what to google to find out.

[terry1156]

Re: Who taught you about money?

don't some community colleges or whatever have a system where you register to teach a class and they split the money with you? I htought I read about hat awhile back. I wouldn't know what to google to find out.

Yes, there are classes like that. A lot of community colleges and community centers offer them. You just need to contact your local community college or community center to see if you can set something like that up.

It would really be beneficial if these classes were available before college.

[PrincessPerky]

Re: Who taught you about money?

See that’s the problem with the American system, you don't get to really choose classes before college. If they made college type classes available and threw out high school, then kids who were ready and interested to learn about money would have the time to do so. Without compromising there social life, lets face human biology demands a certain amount of attention during those years! Actually throw out school for anyone over 12, if you haven’t learned basic math and reading by them you wouldn’t until you bloody well feel like it. Which could be adulthood or retirement. (Or for spelling, I never seem to get it , there's still retirement.)

[crosses]

Re: Who taught you about money?

It seems to me that money issues could be taught at the same time as other classes. The big problem is that teachers are just like everyone else and probably are not educated enough in this area, so how can we expect them to teach it?

[PrincessPerky]

Re: Who taught you about money?

considering it takes 30 hours to teach a person to read and kids are stuck in reading classes for 8 years, I can assure you there is plenty of time if it were managed right in regular classes. but that is a big if.

[terry1156]

Re: Who taught you about money?

It's unfortunate that it isn't a requirement for school. Just imagine if an entire generation was financially savvy and could pass it along to other generations. Unfortunately, that goes directly against the industry that is trying to sell everything and advertisers who want us to part with our money.