Good article, and great questions. I've often wondered why - at least in my day - grade school students were never given even rudimentary instruction in practical economics. All I learned, such as it was - the importance of saving, frugality, making and staying within a budget, paying bills, handling a checkbook (do they still have those…
Good article, and great questions. I've often wondered why - at least in my day - grade school students were never given even rudimentary instruction in practical economics. All I learned, such as it was - the importance of saving, frugality, making and staying within a budget, paying bills, handling a checkbook (do they still have those?) - was by osmosis. Not necessarily the best teacher. We didn't have the added temptation of having credit cards handed to us. In my case, that would have been disastrous. My advice - with the benefit of hindsight - would be "as you strive to earn more, always spend less than you have."
Good article, and great questions. I've often wondered why - at least in my day - grade school students were never given even rudimentary instruction in practical economics. All I learned, such as it was - the importance of saving, frugality, making and staying within a budget, paying bills, handling a checkbook (do they still have those?) - was by osmosis. Not necessarily the best teacher. We didn't have the added temptation of having credit cards handed to us. In my case, that would have been disastrous. My advice - with the benefit of hindsight - would be "as you strive to earn more, always spend less than you have."
Great point. "Spend less than you have" is really the cornerstone of financial success.
There's an increasing number of states that require economics and personal finance classes in school. The Council for Economic Education keeps track here: https://www.councilforeconed.org/policy-advocacy/survey-of-the-states/