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State kids lack financial smarts?

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  • State kids lack financial smarts?

    Maybe one of the reasons why residents of Hawai'i can't figure out the economy is because when they are in school, they are not being taught "Economics 101". This is particularly distressing because as the article notes, one way to help stimulate Hawai'i's economy is the creation of more small business, but once the business starts to grow, many companies fall apart because the business owners don't have the financial savvy to sustain growth.

    How many of us, when we were in high school, studied Personal Finance? How did we all learn about the stock market, budgeting, balancing a checkbook?

    In some states, one of the things the graduating seniors have to prove is that they can balance a checkbook and know the basics of personal finance.

    http://starbulletin.com/2004/11/05/business/story1.html

    Miulang
    "Americans believe in three freedoms. Freedom of speech; freedom of religion; and the freedom to deny the other two to folks they don`t like.” --Mark Twain

  • #2
    Re: State kids lack financial smarts?

    Young people all over the country (Hawai'i included) had better take a crash course in Personal Finance 101 because the President is bound and determined to privatize part of Social Security. This means that young adults, as they start working, are going to have to know what the stock market is and how to make sound investments for their future.

    My fear is that the lack of financial savvy is going to cause many of these young people not to have enough money to fund their own retirements.

    The citizens of Hawai'i should start petitioning the DOE now to include Personal Finance as part of the high school curriculum.

    Miulang
    "Americans believe in three freedoms. Freedom of speech; freedom of religion; and the freedom to deny the other two to folks they don`t like.” --Mark Twain

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    • #3
      Re: State kids lack financial smarts?

      Eh Miulang! So what ate up all da goodies yet?

      I took a business math class at Kalani in my Senior year. Mrs. Trabbie was our teacher and she was strict, she also had a masectomy that she never let us forget! Made us do long division in our heads sometimes up to 4 decimal places and one challenge test down to 14! That was a good class for me as it taught me all about taxes, APY and APR, compounding, rule of 78, net 30, purchase ordering and requisitioning and a lot of other stuff that helped me retire early including how to write checks!

      All that information was a bit boring during school but later when I became financially independant of my parents, I soon realized the importance of what I learned and applied a lot of it. And here I am retired 20 years ahead of time. Thanks Mrs. Trabbie...where ever you are.
      Life is what you make of it...so please read the instructions carefully.

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      • #4
        Re: State kids lack financial smarts?

        Eh Craig: I gotta ration da One Ton Pi because no can find dakine up hea since Maebo wen go burn down earlier dis year. So what? Dey wen go rebuild da factory? Used to be able to get da One Ton Pi from da Hawai'i General Store up here.

        You lucky you took Business Math in high school. But was one elective, yeah? I had to go to college befoa I wen go get dakine stuffed insai my head. I tink business math gotta be mandatory in high school, though. Otherwise, kids going want to take anything but that, even if down da road dat going be valuable to dem.

        Miulang
        "Americans believe in three freedoms. Freedom of speech; freedom of religion; and the freedom to deny the other two to folks they don`t like.” --Mark Twain

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        • #5
          Re: State kids lack financial smarts?

          Eh Miulang!!! Try look at da One Ton Pi chips package. Maybe get one address yeah?

          But if you like get ugly and eat em up and no moa for hubby, no worry I can get some moa but only stay in dakine manini package nowdays. One good memory das still alive with dis kine chips is dat you eat too much you like down da watah in gulps, das one dry snack!

          Da Business Math was one elective cuz my muddah nevah tell me summer school was optional. I ran outta classes to take in my senior year and I nevah like take pre-calculus and spoil da good funs in my last year in HS. I did take Psychology jus so I could look good when I wen graduate.
          Life is what you make of it...so please read the instructions carefully.

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