As of right now and throughout history there has been very little taught to kids/young adults about finance. Because of this and after generations of of people not getting any form of financial advice, it is now accepted and "normal" to be thousands of dollars in debt. People go their whole lives living paycheck to paycheck, never paying off their debt or having a savings/retirement plan.
If we can make financial education classes a mandatory requirement just like math, science, and history. It would severely help the average American family to be financially stable. A lot of people don't invest because they don't understand the terminology or how it works. Luckily now we live in an age of youtube and that basic knowledge is a lot more easier to obtain, but it's still not hitting the demographic needed, which are teenagers. Which is the best time to start budgeting and investing, when you get your first job.
If we could make classes about budgeting, saving, investing, retirement, ect. Mandatory classes in high schools, it would reduce the amount of debt average people owe. Eventually we will come full circle and the parents will start teaching their kids financial education.
Submitted August 07, 2019 at 10:33PM by OrangeyDragon https://ift.tt/33iv8AH
