jawacg

thalia

LoLoAGoGo

CyberSkull

I graduated high school in IL in 98 and took a "Consumer Math" class. Honestly, I really enjoyed it and I HATED math in school (plus I could never wonder "when will I ever actually USE this!?")

ancientsociety

Second off, I'm an economics student, and I think that the last thing in my mind that I would like to see anyone take as a required course in high school is introductory economics. this course isn't that, it is a financial planning course, but if it has course requirements set by the state, you can be sure students will be expected to:

-explain the relationship between bond prices and interest rates.

-Understand the simple money multiplier.

-For some unknowable reason, sketch the production possibilities curve.

to anyone who teaches or feels they understand personal finance, NONE of those are necessary to know or even care about in order to discharge your finances properly. However, they will find their way into the state mandated curriculum.

@ the people defending teachers: fine. We understand that plenty of teachers work hard and do good things. My mom was a teacher. I still know and respect plenty of my teachers--hell, I even invited one to my wedding. We aren't lashing out at you in particular. We are lashing out at the capability of the state to properly teach something that is best taught by example.

To wit:

If you learn in personal finance that budgeting and transparent financial practice are a good thing but when you get home your dad asks you to keep the toolset he bought yesterday a secret from mom, you will learn that hiding purchases is the right way to handle finances.

If you learn that compound interest makes the power of savings phenomenal, but your parents cash their paychecks every tuesday, then you will learn that spending today is more important than spending tomorrow (ok, fine, that's what the discount factor means)

The list goes on. And it is depressing.

Adam Hyland

falc

nffcnnr

1. the education system is very bad in many places in spite of good teachers and

2. Many place will not hire a teacher certified to teach the course. They will have a coach take a few classes (at best) and stick them in there to do as they will.

3. Banks, credit card companies, and financial institutions depend on soaking the ignorant. They will only put up with a token mount of education in this area before lobbyists step in and mess it up.

SpecialEd

I then read the headline again and figured out that financial was in there, and my first thought was "Well WTF good is that going to do if they can't read?"

It may not amuse you guys, but I almost fell out of my chair laughing.

RamV10

Jesse in Japan

lovelygirl

RocktheDebit

ElizabethD

As with any new education mandate, though, this one needs resources and structure to be effective. No fair just throwing the law at the schools and expecting them to make it happen. Is Tennessee going to hire certified teachers with some kind of credentialing/experience in this field, or is it just going to get handed to somebody who teaches something else and they have to figure it out? Is the state going to provide decent textbooks, the needed supplies, the money for teacher training?

This could really be awesome if thought through well. Hope Tennessee is committed to making it work!

waldy

Still, kudos to Tennessee for trying. I hope the kids have the math capability to learn something from it. School curricula needs to focus more on personal responsibility on all levels, and less on testing. If you're self-reliant and reasonably intelligent you can learn all the specialized skills/history/math you need on your own. For everyone else, we need more lead paint factories in the U.S., I suppose.

goodkitty

TINSTAAFL or TANSTAAFL [en.wikipedia.org] really does apply here as far as I'm concerned. You can't expect something for free. Someone has to pay eventually.

Unfortunately, these same companies are great at hiring lobbyists - so even if the they do give loans to people that are extreme risks (and at rates designed to not be a benefit to the consumer), our dollars will be the ones paying the tab. So either way you want to cut it, There Is No Such Thing As A Free Lunch. --- as long as you pay taxes that is. :)

chutch

newspapersaredead

I had one teacher who believed in all sorts of kooky conspiracy theories, which wound up keeping her in not ideal financial teacher (worse, she was a math teacher).

There seems to be some kind of bizarre belief that the teachers will automatically be more financial knowledgeable then population at large at work here.

I don't see this getting much in the way of results.

Sonnymooks

FLConsumer

youbastid

youbastid

carolea

Many kids skip such classes when offered because they want advanced math classes for college applications, but in reality they need this class more. The math you use for everyday and long term financially will be much more important and useful to the average--and even the above average--person than algebra, trig, calculus or statistics. Only by making such a class mandatory will it get the attention and attendance it deserves.

Skeptic

MissTic

SpecialEd

fizzyg

Programs like this have been needed ever since the government (state and Federal) rolled over to the business community in regards to usury and credit laws. Only within the last 15-18 years did TN allow alot of the check advance business to happen. In fact the University of TN-Chattanooga (UTC) campus coleseum is named after one slug from Cleveland, TN who made big in check advance/cash advance business.

Did you ever wonder why Dave Ramsey got his start here of all places and not in a more populated or "higher rent" state?

econobiker

I imagine a public-school financial literacy course will not be entirely wrong about any one thing, but will lack key details, solid advice for adverse circumstances, or really anything useful.

CumaeanSibyl

SpiderJerusalem

boandmichele

spryte