The new trimester started at high school today, and my teen is taking Personal Financial Responsibility. I’m pretty excited about it, and I wish more schools offered a similar elective. Even while we have tried to teach our kids frugality and financial responsibility, we’re just Mom and Dad. What do we know?
Learning the same lessons and skills in an actual class — for a grade? — will hopefully have more impact on her. I want her to have the skills to properly develop a spending plan. I want her to understand the true implications of choosing credit. I want her to have an awareness of personal finance and what it means for her long term.
Now that I’ve looked at the syllabus, I think this course will help, if for no other reason than to open a dialogue on terms she can understand. I’ve already given her one of my favorite personal finance books to look over and share with her teacher. I think Enjoy Your Money fits right into his plans for this course. The objectives for her class include:
- To identify various forms of income and analyze factors that affect income as part of a career decision
- To develop and evaluate a spending/savings plan
- To evaluate savings and investment options to meet short and long-term goals
- To explain services provided by financial deposit insitutations to transfer funds
- To analyze factors that affect the choice fo credit, the cost of credit, and the legal aspects of using credit
- To identify choices available to consumers for protections against risk and financial loss
- To create an awareness of the varied career opportunities in the financial field
- To provide an atmosphere in which the student can relate personal financial experiences and philosphies
- To develop critical thinking skills
Her teacher has also opened the door for guest speakers, so I think I will pitch something on frugality. I think learning about responsible spending is just as important as income, investment, and finance. If you could speak to a personal finance class at the high school level, what you would want to share?
What other objectives and skills would you add to their lessons?