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Archive for the ‘Education’ Category

Personal Finance Education Follow Up

Posted by olemike on 04/04/2011

I posted an article on January 27 where I espoused the need for all high school seniors to receive a minimum of one semester of “Personal Finance” training.  This past weekend, I was pleased to read in this   Sacramento Bee article    that tells about a school right here in the  Sacramento area (Burbank High School in South Sacramento) which does that very thing.    Thus far, the program has been well received by both students and parents.  I encourage all my readers to take a look at this article.  Please encourage your own school districts to implement such a program.  A strong financial education will help every single student better prepare for the real world.

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Personal Finance Education

Posted by olemike on 01/27/2011

One of the main causes of the housing crises is the fact that many home owners or former home owners bought houses they could not afford.  Sadly, many of them did not realize  that and  there are differences of opinion about why.  Many believe that it was the fault of shady loan sharks or banks that took advantage of innocent buyers.  Maybe that happened to some extent.  However, the major reason, in my humble opinion, is that most of the buyers did not have the requisite understanding of the financial information required to purchase real estate.   Hence, my proposal to have all high schools in the country implement one semester of ‘Personal Finance” to be taken by every senior.

The curriculum would include an understanding of the SEC, Federal Reserve, common stocks, preferred stocks, bonds, interest rates, and various home loan types such as fixed, variable, adjustable, etc.   There would need to be a great deal of information on the benefits of and types  of savings vehicles – for example, standard and Roth IRAs, college savings plans such as the Educational IRA and 529 plans, mutual funds and their various types, etc.  I am convinced that if people understood the basics of personal finance, they would make better decisions in managing their money. 

In order for the country and each individual to get on track financially, they need information and knowledge about the subject matter.  This would be a step in  that direction.  What say you?

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Losing the Education Wars

Posted by olemike on 12/09/2010

It is disheartening to read the results of the 2009 Program for International Student Assessment (PISA) for 15 year olds.  This study measures performance in math, reading, science, etc. in most of the countries of the world.  It is a pipe dream to think that the United States is near the top of the ratings.  In fact, we are a dismal 25th in Math, 12th in reading, and 20th in Science.  Other countries are eating our lunch.  We must do a better job of educating our youth.  Being good at video games or being fast at texting doesn’t do much for us when competing with others for economic success.  We must do better.

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