As a parent, I’m often thinking about things that kids need to learn as they grow up. Manners, responsibility, making good decisions, and things of the like come to mind – among thousands of other things. One of those “other” things would be learning about personal finance. Along those lines, it got me thinking about what personal finance topics should be taught to everyone.
I think this way because growing up, I didn’t get any personal finance training in school. Not that I recall, anyway! The closest thing to it was an economics class, where we had hypothetical stock investments. But nothing about money as it relates to daily life, and how to manage it. So while my education was pretty good looking back, that’s the gap that stands out at me.
What do you think younger folks – let’s say, high school seniors – should learn in terms of money-related topics?
Here is what I came up with: 5 personal finance topics that people should learn about when young:
- The reasons why we need to save money (retirement, medical issues, emergencies, etc)
- How to make a budget
- Smart shopping strategies
- How to use credit cards, and why we should avoid debt
- The basics of investing
Of course there are far more topics that we should learn as we get older. You can tell that I clearly follow this by the variety of topics I get into here. For example, career, real estate, etc. That being said, for those young and at the beginning stages of learning, what do you think of these topics as a starting a point.
My Questions for You:
What do you think of these topics as basics for people who are just learning about personal finance?
Do you have any more to add?