Why don't schools teach about money ! - Social Anxiety Forum
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post #1 of 43 (permalink) Old 07-28-2020, 04:01 AM Thread Starter
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Why don't schools teach about money !


Ever since the economy went to dust at the start of the pandemic, I've been trying to educate myself on the world of finance. But its incredibly frustrating ! I feel like a kindergarten student trying to learn calculus.

And it got me wondering why is this so hard to learn....but then I remembered....we weren't taught anything about this in school !

I work in the field of medicine;

And before you say "well he is a Doctor so he should just know stuff" ....this isn't the world of Batman, or a Hollywood movie where having a particular social status means automatically means knowledge of all things from medicine to kung fu....I hate it when ppl assume because of my job I should be able to quote shakespeare, and name japanese cuisine.


....anyway ...continuing....most patients have at least a basic understanding of the human body because human biology is taught as a *mandatory* class whether you are a science student, business student or an art student.

Yet personal finances, loans, business tactics, how to negotiate, NON of this is taught as a mandatory subject in school despite the fact that ....understanding money is one of the most basic parts of adult life !

Im not one for conspiracy theories, but I really can't help but wonder if this isn't purposefully done to keep people financially dependent.
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post #2 of 43 (permalink) Old 07-28-2020, 04:21 AM
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Probably not a bad idea. I was always hopeless with money - I've only gotten better since my wife kicked me out and I decided I'd better try and keep some of it.

My son's about your age - he knows more than anyone else I know about it. Superannuation, shares, taxes - the works. And he's a programmer, not into finance. He just made it his business to find out about it. That boy will always have money.
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post #3 of 43 (permalink) Old 07-28-2020, 04:32 AM Thread Starter
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I just...find it so frustrating.....that by the time I would have paid off my student loans...gone back to study...become a specialist and "maybe" start making real money....I will be a middle aged man ! Non of the things I want to enjoy now would matter, because I would be to old to do it ! I want to have a home gym in my house....but what if by the time I can afford to build a house and put in a home gym.. Im already pushing 50, if it takes me 50 years to afford a home gym, then I might as well give up on that dream.

Im sorry if this makes me sound greedy or selfish...but I mean....I watched my parents get older. My mom loves to travel...my dad always said he wanted to take her on a cruise ship....but guess what...now that my parents are both retired and finished paying the house loan.....my Mom has severe Parkinson's and they are both too sick to do any of the things they planned to do in retirement !
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post #4 of 43 (permalink) Old 07-28-2020, 04:35 AM Thread Starter
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Probably not a bad idea. I was always hopeless with money - I've only gotten better since my wife kicked me out and I decided I'd better try and keep some of it.

My son's about your age - he knows more than anyone else I know about it. Superannuation, shares, taxes - the works. And he's a programmer, not into finance. He just made it his business to find out about it. That boy will always have money.
Everytime I try to think of a money making idea outside of my job as a Doctor....I draw a huge blank.
I see people with side hustles all the time....and I just can't figure out how they do it !

Hell....I can't even sell the used tires off girlfriend's car.
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post #5 of 43 (permalink) Old 07-28-2020, 04:42 AM
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I just...find it so frustrating.....that by the time I would have paid off my student loans...gone back to study...become a specialist and "maybe" start making real money....I will be a middle aged man ! Non of the things I want to enjoy now would matter, because I would be to old to do it ! I want to have a home gym in my house....but what if by the time I can afford to build a house and put in a home gym.. Im already pushing 50, if it takes me 50 years to afford a home gym, then I might as well give up on that dream.

Im sorry if this makes me sound greedy or selfish...but I mean....I watched my parents get older. My mom loves to travel...my dad always said he wanted to take her on a cruise ship....but guess what...now that my parents are both retired and finished paying the house loan.....my Mom has severe Parkinson's and they are both too sick to do any of the things they planned to do in retirement !
It doesn't make you sound greedy at all - and who cares if it does? Definitely not me.

I love money - I just wish I hadn't spent so much of it in the past. The trick is knowing how to keep some of it. Self restraint - not one of my strong points I'm afraid. And definitely not when I'm manic.

My son is very different to me - he can put limits on himself in the short term because he looks at the bigger picture. I never did that - always just blew it and had fun. My wife is the sensible one. (That's why she has the nice house - and I don't. )
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post #6 of 43 (permalink) Old 07-28-2020, 04:46 AM
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Everytime I try to think of a money making idea outside of my job as a Doctor....I draw a huge blank.
I see people with side hustles all the time....and I just can't figure out how they do it !

Hell....I can't even sell the used tires off girlfriend's car.
You live in the Carribean right? Do they have superannuation there? Apparently my son puts as much as possible into his super fund - up to the limit that it's tax free. (something like that anyway - I get confused when he starts talking about all this stuff)

Do you have an interest you could make money from? I sell rare books online - or I did until all this virus business came along. Maybe something online? So many different things some people seem to have going on nowadays.
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post #7 of 43 (permalink) Old 07-28-2020, 04:49 AM
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post #8 of 43 (permalink) Old 07-28-2020, 04:55 AM
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Originally Posted by VIncymon View Post
Im sorry if this makes me sound greedy or selfish...but I mean....I watched my parents get older. My mom loves to travel...my dad always said he wanted to take her on a cruise ship....but guess what...now that my parents are both retired and finished paying the house loan.....my Mom has severe Parkinson's and they are both too sick to do any of the things they planned to do in retirement !
I'm sorry to hear that btw - you often hear stories like that and it's very sad. Shame they can't go on a little holiday somewhere.
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post #9 of 43 (permalink) Old 07-28-2020, 05:35 AM
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Governments want the majority of people to stumble into huge debt before they can figure finances out for themselves & then by the time they understand what happened, it's too late & they have to spend the rest of their lives running to pay it off, that's how most economy's work.






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post #10 of 43 (permalink) Old 07-28-2020, 06:36 AM
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I see two different things going on here...

1) You think basic financial literacy should be taught at school (i.e. personal finance). I agree and in the U.K. Martin Lewis of MoneySavingExpert has been campaigning for that for ages.
2) You want knowledge to earn money (i.e. investment income). That's not taught probably because you need money to invest in the first place (school leavers are not generally rich) and it can be a form of gambling (there are losses).

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post #11 of 43 (permalink) Old 07-28-2020, 06:40 AM Thread Starter
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Governments want the majority of people to stumble into huge debt before they can figure finances out for themselves & then by the time they understand what happened, it's too late & they have to spend the rest of their lives running to pay it off, that's how most economy's work.

I dont want to be one of those people. I want to enjoy life while I am young and able. The whole thing about, go to school get. Job. Save for retirement *does not work*

Heck, I cant even invite most of my family to my own wedding...and I still have no idea if or how...we can have a honeymoon. Hollywood lied to us. The education system lied to us.

Its not enough to just have a job. You have to know how to make a side hustle....but formal education doesn't teach that
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post #12 of 43 (permalink) Old 07-28-2020, 07:36 AM
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Yep schools don't teach many things we need to know. Dave Ramsey taught me a lot.

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post #13 of 43 (permalink) Old 07-28-2020, 11:53 AM
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a lot of the stuff they teach in school isnt useful but i think its good to have a basic understanding about science and math and history and language. some countries place a lot of emphasis on grades from a young age although thats changing now since people realise it doesnt really matter at that point.

but its universities that really waste your time. i guess it worked before but they need to really revise their curriculums now that things have changed. more hands on experience type modules instead of classes and trying to memorise textbooks and lecture notes that people forget by summer. currently you have to be proactive to get these experiences but it would be nice and much more useful if the universities helped you along or set it up.


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post #14 of 43 (permalink) Old 07-28-2020, 12:02 PM
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Kind of where I think removing vocational and technical courses and replacing them with some of the curriculum to which the majority would never apply throughout their life (geometry, calculus, etc.) had done a great disservice to our system. Keeping children back a year or subject for courses would drain out taxpayer dollars all the while the system continuously removes after school activities due to the deficit. Would've reaped quite a bit if I had not the subjects I still didn't put to use while in higher education.
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post #15 of 43 (permalink) Old 07-28-2020, 02:28 PM
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The problem is that a lot of that stuff should be taught by parents. Education system can't be held responsible for doing all the parenting. I'd say a very, very small percentage of people have any business being parents. I'd counter 'why can't schools teach xyz' with 'why can't parents teach xyz'.

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post #16 of 43 (permalink) Old 07-28-2020, 03:06 PM
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i'm afraid school was just somewhere to put me. and teach me random facts to keep me busy. and pretend like i was ok since i managed to learn those facts. while ignoring everything that was wrong with me. in theory school should be there to fill in the failings of the parents. but no, its just a holding centre so the parents can go to work or just so they can dilute the blame for their neglect.

i believe some people get taught things from their parents and are involved in their extended family and community and also their peers at school, etc. all this should add up to something. for those that got none of that... this is not healthy. you are a victim of neglect.

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post #17 of 43 (permalink) Old 07-28-2020, 03:47 PM
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i wish i would of learned something about credit scores in high school

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post #18 of 43 (permalink) Old 07-28-2020, 05:20 PM
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The ones who are suffering the most out of it are children from impoverished households whose parents cannot afford tutors or have their child attend programs that can help for them to learn and gain skills outside from school. Studies have even shown that preschool is not making that great of a difference for children to meet up with their more well-off peers who have parents and resources to encourage their children to learn faster. Also have to think about the fact that these parents might not be there because they have to work two jobs in order to keep a roof over the child's head. I say it's a mix of both schools and the home. Sadly the notion that parents are always correct tends to come from a culture that embraces individuality due such luxury, and in turn schools generally cave in because it's an overall losing battle to work together with parents among other administrative control that teachers generally have minimal control over.

Not sure how this relates to the initial subject, but figured to respond because of the subject brought up that school cannot be held accountable for everything, which I do agree. But many other factors are involved and thus it does enable the perpetuation of demographics of children to repeat the same cycles as their parents, including financially. Education cannot bridge that gap but it can also improve in some areas to help prevent the possibility.
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post #19 of 43 (permalink) Old 07-29-2020, 02:12 PM
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Quote:
Originally Posted by mt moyt View Post
a lot of the stuff they teach in school isnt useful but i think its good to have a basic understanding about science and math and history and language. some countries place a lot of emphasis on grades from a young age although thats changing now since people realise it doesnt really matter at that point.

but its universities that really waste your time. i guess it worked before but they need to really revise their curriculums now that things have changed. more hands on experience type modules instead of classes and trying to memorise textbooks and lecture notes that people forget by summer. currently you have to be proactive to get these experiences but it would be nice and much more useful if the universities helped you along or set it up.


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Well it worked before because very few people went to university. After they started encouraging almost everyone to go it devalued higher education. Basically credential inflation.

Here's one example from wikipedia:

Quote:
For instance, in the late 1980s, a bachelor's degree was the standard qualification to enter the profession of physical therapy.[41] By the 1990s, a master's degree was expected. Today, a doctorate is becoming the norm.
It's also possible to be overqualified though depending on the job.

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Originally Posted by andy1984 View Post
i'm afraid school was just somewhere to put me. and teach me random facts to keep me busy. and pretend like i was ok since i managed to learn those facts. while ignoring everything that was wrong with me. in theory school should be there to fill in the failings of the parents. but no, its just a holding centre so the parents can go to work or just so they can dilute the blame for their neglect.

i believe some people get taught things from their parents and are involved in their extended family and community and also their peers at school, etc. all this should add up to something. for those that got none of that... this is not healthy. you are a victim of neglect.
Yeah I agree, it's also a bit comparable to a prison that you leave at the end of the day.
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post #20 of 43 (permalink) Old 07-29-2020, 02:19 PM
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They do have personal finance courses where they teach what you're talking about. (My high school I took 2 personal finance courses, and an accounting course covered some personal finance topics as well).

The problem is they're electives & most people decide to take Art or Gender Studies as electives instead.

Reason they're not required is probably because they figure students are smart enough to take practical classes on their own. ( it turns out, a lot of them aren't.)

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