Some guy named Brian Kim wrote an article called Top 5 Things That Should be Taught in Every School.
Below are five things that I firmly believe should be taught in every school in America so that students don’t get railroaded when they enter the real world. If you’re still in school and reading this, consider it your lucky day as mastering these five skills will give you a great head start and help separate you from the rest of the pack as well.
He puts personal finance at #1 on his list:
most young adults don’t have a clue on how to invest their money. They don’t know what a Roth IRA account is, or a 401k, or the magic of compound interest, the tax benefits associated with investing in these types of vehicles, etc. There’s a lot of specialized knowledge out there that young adults are not aware of on when it comes to how they can invest their money and as a result, they frivolously spend it away.
The other three are communicating effectively: “I ‘m mainly talking about being able to clearly take what’s in your head and to put it into words so the other person clearly understands what you’re saying the first time.” Social skills: “Learn to approach people – that’s another big skill. Most people don’t have the guts to take the first initiative and introduce themselves. Be the big man. Take the first step. Learn to make the other person feel good and important.” Sales: “Selling is one of the few skills that can be utilized in any job or career. It’s one of the most important cross marketable skills you will ever develop.” And finally, time management, and he added a sixth, health.
I have to agree that personal finance should definitely be taught in school. I learned some in school as there was a “business ed.” course when I was in high school that was mandatory. Our teacher walked us through filling out mock T1 returns and we bought some stocks on the stock exchange with fake money. I think we learned a bit about investing too but I don’t remember it much. I know the next summer (after Grade 10) I starting buying mutual funds monthly. Part of that early start might have been due to taking that course, who knows?