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Why don't schools teach personal finance?

Discussion in 'BlackHat Lounge' started by NowYouCan, Jun 8, 2011.

  1. NowYouCan

    NowYouCan Newbie

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    Back when I was in high school, I didn't learn how to open a bank account, rent an apartment, or any other money related stuff. Also, just only recently have I heard about books such as Think and Grow Rich, The Richest Man in Babylon, and How to Win Friends and Influence People. Want to know what I did learn?

    A bunch of useless crap that I don't even remember anymore. So when you consider how much time was spent in school learning and at home doing homework, it was a VERY VERY BAD ROI (Return On Investment). No wonder I was so clueless when I moved out at 17. I wasn't ready for what was going to happen in the real world. Definitely don't want to go through it ever again.

    I haven't been to college so I don't know what they teach you in college. But I believe the ultimate goal of school is to teach you how to follow orders and get a job. But they don't teach you how to run your own business.

    Do you want a job or your own business?
     
  2. maxbond

    maxbond Newbie

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    The current school system has not been re engineered since the early 1900. It was design to make us think that we are know the world but the truth is like what you said.

    If everybody read the books your mention, and it become the curriculum, who do you think will be the janitor? the factory worker? etc.

    So, It is up to us to teach that to our kids.
     
  3. fulcanelli

    fulcanelli Jr. VIP Jr. VIP

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    Sociology has a general principle. It's called the "hidden curriculum" public school readies you for the public sector. It teaches you to serve and follow the rules, and follow orders. Then private school readies you for the private sector. [Yeah yeah I know this is a huge generalisation]

    One readies you to lead, give orders, take charge, get things done, and make your own solutions to break and bend the rules.

    You tell me which one does what.
     
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  4. Janpower

    Janpower Registered Member

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    In Holland they teach you, "home economics" for a few weeks in the subject economics. But come on man you got as well parents, my parents teach me how to handle money. Not everything is the responsibility of school or government.
     
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  5. Roparadise

    Roparadise BANNED BANNED

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    Some schools do have business mathematics,but usually only one teacher teaches it,and only maybe 2 classes that are barely full. In 2008, I placed 3rd in Louisiana in business mathematics :D
     
  6. KlaAz0r

    KlaAz0r BANNED BANNED

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    why doesn't school teach IM one hour in the week? and we all make plenty of money
     
  7. daymond

    daymond Junior Member Premium Member

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    schools teach workers not entrepreneurs and yes IM as a subject is good idea. They could learn hot to make a website and sell some stuff as affiliate, there is so much free tools to use for them.
     
  8. eBayMafia

    eBayMafia BANNED BANNED

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    Even though the books may be taught to people, not all of them will absorb and practice the information.
     
  9. linkdropper4

    linkdropper4 Junior Member

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    Yup school does nothing, college is the same way, you get a piece of paper that qualifies you for more jobs basically. Everything that I use on a daily basis I researched and taught myself for the most part. You for sure don't learn about rent or credit ratings :)
     
  10. InfinityAI

    InfinityAI Jr. VIP Jr. VIP Premium Member

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    I found that people generally pick up personal finance habits from their parents. It's sort of monkey see, monkey do.
     
  11. tekman

    tekman Newbie

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    I graduated High school in 1995 and remember doing tax forms in one class. Colleges do offer classes on search engines. My community college does.
     
  12. redstone.1337

    redstone.1337 BANNED BANNED Jr. VIP Premium Member

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    Seen the movie Matrix? :D The real world is exactly the same model. Its all have been designed to make a man good enough to serve the biggies and the ones who try to avoid the system gets eliminated due to lack of money and other factors. They don't teach entrepreneurship in schools as this would just disobey the system. But hey, there are still many people who have been successful escaping this matrix (the Entrepreneurs).

    So, the Red Pill or the Blue? :D
     
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    Last edited: Jun 8, 2011
  13. thefreshmaker

    thefreshmaker Registered Member

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    strange system
     
  14. Monrox

    Monrox Power Member

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    2 reasons for the current teaching practices.

    1: If the population is large, the majority needs to be sheeple for the country to survive. Otherwise nobody will want stupid jobs like baker, builder, butcher, machinist etc. Also nobody would make bad financial decisions which would effectively ruin the banking system.

    2: It would be next to impossible to teach the right stuff because schools would be sued to death for suggesting stuff. I can write about what's best to do if you have debts (walk into a different bank, get a 5% interest loan and pay back the original 15% interest loan in a single installment) and that's freedom of speech. Schools do not have that right. It's like a judge telling a party to get another lawyer because he is cheaper and better.
     
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  15. jamesyboy

    jamesyboy Regular Member

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    I was in school >20 years ago and we didn't get hardly any personal finance teaching. Nothing's changed.
     
  16. NowYouCan

    NowYouCan Newbie

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    I see what you are saying. But what happens when your parents are uneducated because they were born poor? And also they are too busy working to even have much time for you, less teach you about money.

    So maybe instead of schools forcing people to learn useless stuff, they should teach things that will be useful in life. They tell people to go to school but a lot of them don't like it because they are learning things that they hate and don't know when they will ever use them.

    Yeah, it is great when your parents are successful. But what about those people whose parents are alcoholic, do drugs, are in jail, etc.? They will just be led down the wrong path.
     
  17. teeniegenie

    teeniegenie Supreme Member

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    You can't teach what you don't know...:)
     
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  18. ibira

    ibira Registered Member

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    Where I live, much of the public banks profit comes from the ignorance of people about the financial system in general, which makes them pay high interest rates for their debts.

    I also think that schools should teach basic law, I've seen many people get screwed because they really don't know how to do the right thing, specially when it comes to employer/employee relations and contract reading and writing.

    People should have access to religion in an unbiased way too. Many people have poor spirituality because they were instructed about one religion and that's the end of it, don't question it or your god will make you suffer.

    I guess the system is designed this way as to keep the dominant classes (Law and poitics, finance institutions and the great religions) in power. That sounds a little bit like marxism/conspiracy theory I know, but it makes sense, doesn't it?

    Just my $0.02
     
  19. TNphoneman

    TNphoneman Senior Member

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    It all depends on what your definition of successful is. If it means that they are millionaires, I agree. But there are many successful people that are not rich and rich does not necessarily mean successful. Common sense and thinking you have to keep up with the Jones' is what has killed the economy. Be happy with what you can afford and if you want something else, work harder. Living within your means is the key to becoming successful.
     
  20. qxxxp

    qxxxp Junior Member

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    in germany its the same, old system and no one is really interested in analysis or 200 years old novels... most of us never will use the stuff. Except you are going to be a teacher, then the stuff is maybe ok.

    if you want to learn what you really need in life, go to the place where it is taught or buy books...

    school :rocketwho