Financial Literacy Class

In this society, some of the most important things in your life have to deal with money. In Chad Foster’s book, Financial Literacy for Teens, he taught his readers how to save, spend, invest and give away your money. Reading this book has taught me to start saving when I’m young, know the differences of what I need to buy rather than what I want, to make money while I sleep and giving away some of your money will not only help yourself, but help many others as well.

After someone completes high school, their first step is figuring out what kind of career they want to pursue. Most careers require a college degree just to apply. At this point, they should decide what their major is going to be and see what college is best for them to attend. Every college requires “general education” classes that the students must pass to graduate. Taking these extra mandatory classes is just time lost that college students will never get back.  General ed classes are also a waste of money, as many students acquire major debt from trying to pay for these required classes. If students were able to only take courses that help them in completing their major, more students would actually finish the classes and get their degree instead of dropping out. Universities should not necessitate students to take these general education courses that have nothing to do with the their major.

Throughout unit three of the Financial Literacy lesson, payment types, I learned many things. To begin, I learned about credit. Credit is an agreement where a borrower receives something of value now and agrees to repay the lender at a later time. This is very useful, because it not only allows you to make large purchases, but it allows you to make purchases with ease. When considering getting a credit card, it’s important to research some information about them. This includes the interest rate charged by your credit card company, special fees, rewards, and the maximum amount you can charge to your card. While credit cards can be fun to use, it’s important to use them responsibly. You should make your payments on time (this will help you stay

That is why I decided to take dual credit classes while I was in high school. Not only did it give me a chance to distinguish myself from the rest of the students in my school, it would also make college less expensive for me

Investing was not the only vehicle used to accumulate wealth. Saving your money effectively is one of the strongest vehicle for wealth. It is not how much money you make it is how you manage it that counts. The best rule of thumb to use the 5% percent rule. This is where you save 5% of your check before you even spend it on bills. So if your check is $100 you save $5, then you will pay your bills. The reasoning behind is that percentage you are saving is going towards you and not anything else for your personal gain. From 5% you will work your way up to as high as you want as long as you can also pay your bills. Financial literacy is a problem in this country which is affecting the nation negatively. If we knew how to use our money properly

Many different studies have shown that having a mandatory financial literacy class would not be helpful for students because they think that they know everything when they do not and when tested they don't score any better than those that do take the course. The mandatory financial literacy class is not good enough right not for a changing world. Therefore, students should not be forced into a class that might hurt them in the long run.

It’s no secret that a majority Americans struggle with all things finances. The jargon alone is enough to leave many confused, and with the complexities of modern economy becoming an ever increasing tangled mess, Americans are looking to do something about it. One popular suggestion is financial literacy classes for high school students. While the idea sounds promising, the reality of these classes is rather farfetched. People praise the thought of implementing financial literacy into our school system in order to help kids in their future. This praise is filled with good intentions, but the sad fact is that this is not in a student's best interest.

Lyons et al. (2006) determined that the majority of college students (76.7%) indicated that they had gone to their parents for financial information. A study completed in 2010 by Bryce Jorgensen and Jyoti Slava tested the perceived parental influence on the education of the financial literacy of college students. This study found that parental income had a significant influence on the perceived parental influence of financial knowledge on students (Jorgensen and Savla, 2010). Parents earning higher incomes had their children perceive a greater amount of influence that they had on their financial literacy, and the more positive that their children's financial attitudes and behaviors tended to be (Jorgensen and Savla, 2010).The study also indicated that students who reported learning about finance explicitly from their parents had better financial attitudes and behaviors, yet lower financial knowledge than students who reported learning only implicitly about finances from their parents (Jorgensen and Savla, 2010). These findings were attributed to the fact that parents with higher incomes have a greater number of opportunities to interact with their children in a diverse financial transactions than parents with lower incomes, such as buying a car or renting a college apartment. (Jorgensen and Savla, 2010). A separate study showed that high school and college students who observed their parents in financial experiences, such as observing the saving habits of their parents, had a greater amount of financial investment knowledge and savings (Peng et al.

Financial literacy is essential in living in today’s society, therefore it should be taught at a young age because people have been going bankrupt more than ever before. According to Kelly Walsh, “Students between ages 18-25 have at least one credit card. By the time they graduate half of them have four or more credit cards that have an average balance of $3,000” (Walsh). If students were taught at a younger age how credit cards actually work; they would better understand the consequences of debt. For instance, if students were to research different credit

A lifetime of financial success is a consequence of financial literacy. By the time my immigrant parents started saving money, they had to pay for my college expenses. Now that I have student loans, being financially literate is essential to manage my financial affairs with budget planning, debt management, and credit management. With financial literacy, I could devise a budget plan to pay back my college debt, fulfill parents’ wishes and maintain excellent credit scores to receive loans at low-interest rates for my entrepreneurial venture. My long-term goal is to start a generic pharmaceutical company and to serve my community in the form of affordable medications. Since a large amount of money has to be invested in the company, financial

In the article “Teaching Personal Finance to College Students: What Matters to Them,” the author, Elven Riley, reveals how he taught a personal finance course by using real-life situations that his college students would soon encounter instead theoretical situations often found in textbooks. His main goal in doing this was to show that in order to get the students to truly understand these financial concepts, you need to relate it to them and their lives. He used the actual experience, grades, and feedback from his courses to support his belief. This article was quite easy to understand and I felt connected to it because I also tend to understand and learn better when I can immediately see the connection the lesson has to my

Having students take unnecessary classes for their major doesn’t make sense. What good is an art appreciation class to a chemistry major? When students take classes that in no way pertain to their major it is a waste of time, not only for the student but the teacher as well. College credits cost quite a bit of money and when colleges require students to take these classes students are wasting money and the college is profiting from these requirements. College is becoming more and more a necessary in life. These requirements are putting students further into debt. In high school there were classes that needed to be taken to get to college, but nothing comes after college except life. If the required classes helped students succeed in actual

When we graduate we should know how to pay bills, go to interviews, take care of ourselves. With the classes we have to take we do not learn any of those things. We have a good education it's just not what we need. I feel like it should be mandatory for us to have to take a class that deals with

College students should not be required to take general education courses because they are a waste of time, can be a waste of money, and they do not pertain to the student’s chosen major.

The objective of this report is to analyse two clients using primary and secondary data in these following areas: