Sharing Daily Discoveries About Personal Finance And Business Topics

Mandatory Financial Literacy

mandatory-financial-literacy

I saw this petition online which revolved around the desire to make financial literacy courses a requirement for grade 10 students in the province of Ontario here in Canada. I know here at least students are required to go through a career preparation course where you need to learn skills while having a career goal of sorts in order to graduate. So I guess this proposal would essentially make financial literacy a requirement too.

I am surprised this kind of stuff isn’t part of the regular curriculum already. I was even reading some of the objections to this such as how students can’t learn much about finance in one year where this type of course would be useless. I was actually looking at some of the topics and one of them was “How Bank Make Money.” I actually thought that was great as too many times people don’t understand how say banks or credit card companies make money off of you to the point where people just blindly assume whatever advice they are given by the companies are best for them. Understanding simple business details like this can go a long way. Like saying everyone is weary of the commissioned sales people as you have to factor in that the normally want the biggest sale to make the most money.

financial-list

Interestingly enough here in BC I was forced to learn some financial stuff in high school such as how to fill out a tax return or having an assignment where we had to go grocery shopping to compare prices. Honestly though I didn’t learn much from that in the overall picture. However, learning more about things such as credit scores or how much money credit card companies earn off all those late interest payments would probably be a good shock for high school kids I feel to get them to seriously think about things such as spending money that you don’t actually have. Interested in seeing how these kinds of courses play out in the long run.


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