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Author: telegraph Big funky green star, 20000 posts Top Recommended Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 59150  
Subject: Re: Familiar (?) 'Didn't Start Early' Story Date: 2/13/2007 2:17 PM
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Too many kids have no idea where money comes from or how to use it...they are used to big allowances and no limits on spending, and parents who consume in large quantities and try to spend like there is no tomorrow.

The kids usually follow what their parents have done by example, and that is 'charge it'....from big ticket items, to clothing and shoes to designer goods to even buying fast food at Macdonalds.

Everything is 'payments' and minimum payments.

I don't think I had 'financial education' in high school 45 years ago....nor in college.....but I had frugal parents. I didn't have a credit card until after I graduated from college. Now, kids are given the family credit card to go to the mall to buy things like school clothing...... or given a card to buy gas for the car.

High schools should require students to learn to balance check books and learn about 'financing' but it likely won't happen with the new math.

Kids follow what their parents do.......and now parents seem to be on the kick of 'extracting' home equity in record amounts over the past 10 years....'cashing out' and spending all that 'found money'. And kids think money grows on trees with everyone making 'tons of money' in the stock market year after year, and the party should rock on forever because 'they deserve it'.

I do think the 'new math' you tube was quite a bit biased.......heck, calculators are here to stay, and there really is no reason to spend 100 hours drilling in long division to students.

Its sort of like 'penmanship' in days of old, when folks dedicated hundreds of hours to learning how to trum their quill, and refill their inkwells, and blot the finished writing to prevent smearing.....or writing with a 'fountain pen'..... heavens forbid, ball point pens....then marker pens.....what did the world of caligraphy turn into?

Kids 'write anything'? Maybe checks in their checkbook....but even that is going the way of 'on line payments' and billing to your bank account or credit card for all monthly payments.....

Kids ought to be able to do simple math.....I'm not sure that doing 23/65th times7/8ths, then that product divided by 27/32 is all that relevant. If they know how to do it on a calculator, great.....


t.

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