It’s good to hear that more Wichita teens will be learning basic money management skills along with their reading and writing under a financial planning unit offered to high school history classes districtwide. Few kids are taught how to effectively manage their money, build good credit, and plan for their retirement, noted teacher Marquis Murphy of the Youth Educational Empowerment Project. Yet these are core skills expected of adults.
Society pays a heavy price dealing with credit card debt, bankruptcies and other fallout from financial illiteracy. Money management should be an important part of a student’s education.
Posted by Randy Scholfield
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34 Comments
Today’s children only need to know where to go to get their government handouts. Welfare, food stamps, WIC, subsidized housing, and soon free healthcare.
We don’t want them to grow up to be evil rich people, do we?
Heaven forbid we tell them about Social Insecurity not Trusted Fund.
Just make darn sure they learn Spanish. They are going to need it for their service sector jobs.
Need to teach them something about finances, they sure as hell are not learning it from their parents! Are there any teachers without a huge credit card debt qualified?
And they are not going to learn it from a government that is out of control spending more than revenue coming in. Pork and Earmarks for all and a growing national debt.
Yep, someone needs to teach them.
But is there anyone left in America qualified who isn’t a hypocrit?
PT, do you mean, who will set the”example”?
Society pays a heavy price dealing with credit card debt, bankruptcies and other fallout from financial illiteracy.
Give me a break! Who IS “society”? It’s the people in debt today. Millions of them. Millions more with nothing in savings. Nothing for retirement.
So who exactly is paying the heavy price? The people who are bailing them out? Those that remain and can pay?
Hold their hands from cradle to grave. Make them dependent robots for the government. Give them an IRS which publishes mountains of regulations which only rocket scientists can explain.
Is it any wonder people can’t handle their own finances?
Let the government teach them.
Like I said. Give me a break.
I don’t understand: We’re supposed to teach our kids fiscal responsibility, but few in the press expect fiscal responsibility by state government or school districts?
The Kansas Supreme Court decision on school finance didn’t even demand fiscal accountability from schools. When now Topeka Mayor William Bunten was a State Senator, he tried to get school districts to explain spending by building. The schools said that was too hard.
And what about all the new state jobs in Kansas over the last few years? How is that fiscally responsible?
Why doesn’t the Eagle do more to keep schools and state government fiscally responsible?
“Pork and Earmarks for all”
just another bushism.
bush has wasted, not only the dead kids, but also trillions of dollars added to the out of control national debt.and, at the same time cutting taxes to his rich fellow neo-CONS.
you all sound like some old codgers sitting in a downtown diner drinking coffee back in the good ol’ 1950’s.
most of the crap you spew out your pie hole doesn’t even begin to make sense.
Just now the government schools figure out that maybe a little discussion of money (in history class no less) is needed?
What kind of idiots are in charge? Maybe Brad can enlighten us as to the great job he is doing on this. Or possibly his other persona Apophis.
Well, teachers can try to figure out how to teach these kids that you can’t make a living on minimum wage. At least, make the lessons fitting to the world around these kids. The one my daughter did last year had her earning quite a bit, and paid only a few bills.
When I attended Wichita schools in the 60’s we were taught about money and how to account for it from the first grade on up. You got a more finacial piture in junior high and high school.
Don’t wait until high school for the lesson. It is too late then.
I learned from Republicans that the best way to control your finances is to keep on getting more and more into debt. If you have rich friends who owe you money tell them that they don’t have to pay back all of it. If your boss is going to fire you open up your wallet and give him some money for finding a Chinese speaking employee.
They used to teach that in high school. Do they not anymore?
Glad that there is a first step to financial planning in the school system.
It was required for everyone when I went to school to take “Book Keeping.” It had the basics of check writing and keeping family savings in order. Of course, it had some small business accounting in there as well.
When I was in high school, they taught ‘personal math’. It was the joke math for jocks who needed a math credit to graduate and a good GPA to get into the sports schools.
I suppose the rest of us doing the higher math were supposed to just pick this stuff up.
Doug,I’ve seen you post some pretty moronic stuff in here, but that just might be the ‘moronic-est’
The reality of the situation in most kids’ lives today is that their parents, either 2-parent homes or the single parent household, are barely making ends meet. With the costs of living going up every week and the paychecks being stagnant, it leaves very little for any frills.
Then we have the other side of the spectrum where upper middle class kids who have their own cars, cell phones and uses their parents’ credit cards don’t have a care in the world because they have been given too much, too soon (usually because both parents work and don’t want to be bothered by their kids).
When I was in school, we had classes in basic check book balancing, banking services, etc. I guess we don’t teach that anymore because the teachers are too busy getting the kids ready for those No Child Left Behind tests? Is that the problem?
And, lastly, I remember Bush shortly after 9/11 telling Americans to go ’shopping’. Is that really the main message we are sending our young people? And then we wonder why so many people cannot handle their finances?
Well subsequent posters have confirmed it:
It’s all Bushes fault!!!!!
You libs are almost adorable, like deer caught in a car’s headlights.
Turn all our local, national, and world problems into a political issue.
Do they train you guys?
Well I agree with teaching our children fiscal responsibility.
Teach them how to use a check register and have them fill in entries daily. Make deposits as well as withdrawals. Then, carry that to on-line checking.
Teach them how to use coupons and the savings derived from that.
Teach them the rule of 72, and how saving young will greatly compound later.
Teach them about credit cards, and how to use them to pay bills, not for short term loans.
Teach them about how interest compounds and applies to credit card interest. Scare the bjesus out of them by showing them how many years it will take them to pay it off.
Teach them how to look for the best credit cards and the consumer friendly.
Teach them about the 25/30 day grace period, it’s advantage when paying in full. But also teach them about the five days to pay before finance charge/penalties apply.
Teach them about credit unions and banks, and how to pick which ones are most consumer friendly and have the less charges for “services” (cough, choke, cough).
Teach them about loans.
Teach them about their credit score, reporting agencies, and through practise teach them cause and effect of loans and CC bills and number of cards on their score.
Teach them the advantage of having a higher credit score.
Teach them about college loans, tuition costs, the thousands of scholarships available to apply for, and the advantages of school on future salary.
Teach them about a junior CC, with a 500 dollar limit to gain a credit history.
Teach them about investing: different types of IRA’s, positive advantages of 401 plans, mutual funds, and how treasury bonds work.
Teach them about the difference between a financial planner (certified) and a broker. Some credit unions offer the former for free!
Teach them about healthcare plans.
Teach them about car and home insurance.
Teach them about homeownership and renting and the costs related to each.
Teach them about living within their means.
Teach them that if they do not make a lot of money when they are young and classified as “poor” that it is o.k.. It is a natural progression for young people to grow in personal wealth and career to higher salaries.
Teach them that it is NOT someone elses fault if they stay poor. Teach them that no one OWES them anything.
Teach them to be self-sufficient and financially independent.
Make sure you set a good example.
This is all just off the top of my head. These are things I tried to teach my own children growing up. Not all of it soaked in.
Good luck school teacher.
I’ve “forced” my kids to take Dave Ramsey’s Financial Peace University, a 13-week course in personal finance. Not sure if Ramsey is on the air in Wichita, but his program is relentlessly practical and covers most all the important aspects of personal finance.
I recently experienced the joy of having one of those kids save up for his first car, and negotiate the heck out of the deal. He used a number of the things he learned from FPU (and hopefully from his mother and I, too!)
Check out daveramsey.com for details; highly recommended.
I have no credit card, just a debit card.I have no debts.Everything that I have is paid for; everything that I buy is completed.No loans, no layaways.I have a savings and I plan ahead, if I do not have the money, I just live with that fact and I do without it or plan a savings for it if I wanted it that bad.I have not always been perfect, in the past I have victimized myself with over-spending, being credit card dependent, owning back taxes and falling behind on bills to having to file bankruptcy and losing everything.That was seven years ago, now every time that I get a credit card offer, I do not open the letter, I just tear it in pieces and throw it away. No Thanks it is just a trap.To me fiscal responsibility is learning from your mistakes but it is a shame that is takes a mistake to learn.If I had to teach a child about fiscal responsibilities, I would think that teaching about how to handle money is a good subject but understanding about Returning Values of Spending would be a better subject, which is where the emphasis needs to be at.That way they would learn not to be so quick to depart from their hard earned money and maybe they can avoid those money traps.
Well subsequent posters have confirmed it:
It’s all Bushes fault!!!!!
You libs are almost adorable, like deer caught in a car’s headlights.
Turn all our local, national, and world problems into a political issue.
Do they train you guys?
Posted by: American Way
Well, what part of my posting was false? Did Bush or did not Bush tell Americans to go shopping after 9/11?
And of course, just like a Republican, you only take issue with what I stated about Bush and not the other part of my posting which is related to teaching kids financial issues.
Republicans like to spout off how intelligent they are but I have yet to see the proof in the pudding, as my grandfather would say.
The current president, George W. Bush, has encouraged and the Congress has seen fit to borrow billions for a war that we can not afford; but yet you’re worried about the kids of today not knowing how to handle their finances.
Young people will emulate what they see and not what they hear.
now every time that I get a credit card offer, I do not open the letter, I just tear it in pieces and throw it away.Posted by: Wiseman
I got mad at all these companies sending me credit card offers and really upset over the pre made out checks.
Each of these envelopes comes with a postage paid envelope to return the application in.
Now, when I tear up the paperwork, I stuff it back into the envelope (without anything with my name on it) and add a couple of pennies for weight.
So I send their crap back to them.
Imagine how costly it would be if everyone did this?
Maybe they would stop?
The current president, George W. Bush, has encouraged and the Congress has seen fit to borrow billions for a war that we can not afford;Young people will emulate what they see and not what they hear.Posted by: maidmarion
Don’t forget the “who” you are talking about today. It is a democratic congress approving funding for the war and have already approved increasing the national debt limit to accomodate their HUGE spending above revenue projections.
What bothers me about your post is you are quick to point fingers.It is not ONE political party who got us into this mess. The national debt did not begin with Bush and will not end with him. Look at the earmarks democrats just approved. Where did that money come from?
And again, you post about Bushy instead of the thread subject matter.
Teach your children well, their parents hell, will slowly come back………
If we teach everybody to live within their means and to not go into debt, the construction industry, auto industry and banking are all dead, as well as most retailers. Our economy depends on people mortgaging their future wealth to meet current needs.
Jed you are showing your ignorance. Why? Because you don’t even realize that people actually pay cash for all those items you mentioned. And other responsible people take out loans for all those items.
There are millions of responsible Americans who have limited debt. Many just have a home mortgage payment and pay cash for the rest.
But regardless, there will still be value in all the items you mentioned and people will buy them.
But you can still be a financially responsible person with debt.
Some are just smarter than others.Like you Jed. We want our kids to be smarter than that.
As I recall, the first 6 years of Bush’s presidency, the Republicans had total control of the Senate and the House. Isn’t that the time period that Bush invaded Iraq – during the last 6 years?
Some Democrats did vote to give Bush the power to go to war as the last resort – but Bush chose to go to war as the 1st resort. So, let’s not be so quick to point the finger at just Democrats as you are so prone to do my friend.
The topic was teaching kids financial responsibility and how can we do that in this country when our own president has chosen to put our country into debt for some insane war?
As for the credit card companies, they are making their billions in profit and they are the ones that keep sending out credit card offers to the people already overloaded with credit card debt. So where is their financial responsibilty? Aren’t they just feeding the credit card debt in this country by offering more credit cards?
It is a never-ending circle and it all revolves around money. Again, today’s young people will only emulate what they see and not what we tell them. If you don’t like today’s society, then you only have to look into the mirror to change your little piece of the society.
Maidmarion you cannot post once without plugging your democrats and slapping republicans. Ho-hum. Boring. Liberal tape recording over and over again.
“credit card offers to the people already overloaded with credit card debt.”maidmarion
Yes, that is what a business does.
“So where is their financial responsibilty?”maidmarion
Their financial responsibility is to the going concern. That is the profitability of the company. Not to the consumer. Egads! What else would it be for?
“Aren’t they just feeding the credit card debt in this country by offering more credit cards? “maidmarion
Nooooooooooooo. The credit card company makes offers for their services. Just like ANY business in America. Like for example the tobacco or beer company. No one is twisting the consumers arm, FORCING them to open that envelope, FORCING them to signing the application form, and FORCING them to mail it back in to the credit card company.
Just like smoking and drinking. (Gambling too if you like)
So in the end, it is the individual PERSON who is RESPONSIBLE for their actions.
It is personal responsibilty and that is being financially responsible by just saying NO.
It isn’t the evil credit card industry that is causing debt. It is irresponsible PEOPLE charging off more than they can afford.
Why give them back pennies, Hotdog?If they get 1 million pennies, that is 10 thousands dollars they getting.Send them a tea bag instead.
Send them a tea bag instead.Posted by: Wiseman
A penny is what my parents started me sending. Something about weigth costs more if it’s above the bulk rate paid for.
Also gets caught in their local mail handling machine.
I guess a tea bag would work, but they wouldn’t have weigth advantage. To be fiscally prudent, it would have to be a used one. Wet? ;-)
LOL!
anything else you want schools to do? seems like we ask them to do everything nowadays … heaven forbid parents do anything, like raise their children.
Hign schools should require 4 yrs of parenting and relationship skills. Most kids in high school will become parents and will need those skills even more than they need Algebra.
Gee Mary I sorta thought that’s what PARENTS instill in the children.
Not a government responsibility.
1> To the political know it all’s..
The fact that this turned into a political debate is disgusting. How dumb can some people be? The current financial debacle we face encompasses many different presidents, and administrations that all failed in terms of financial stability.
2> To those that blame parents
Yes, parents should teach their children many things. The fact is that many don’t, so get over it. Now the question transitions to, how can we as a society best utilize our educational system? Personally, I think that the entire content structure of school could be improved. We teach our kids history, but somewhere along the line we forgot that maybe we should teach them about their future.