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Finance Classes in High School

FinanceClasses in High School

Itis clear to ascertain that money management skills are importantaspects of life. Starting from childhood children portray variouscharacters which depict on how they aspire to develop the moneymanagement skills (Borodich, Sergey, et al, 12). Owing to the highschool setting, it is vivid to depict that students encounter manyinstances which require them to apply management skills. Due to thefact that the education curriculum allows teachers to offer businessknowledge to the learners, it is paramount to point out that learnersacquire substantial skills that may aid them in handling businessactivities. However, there is a need for the student tocomprehensively understand the matters dealing with finance. Sincethe real word is presented with various issues which require decisionmaking, concerning financial issues it is imperative to introducefinance classes in high school.

Accordingto the research studies, most of the teenage individuals articulatethat they have the desire to learn on how to manage money.86%% of theteens propound that they would rather learn the management skillswhile they are in class instead of committing mistakes in the realworld. Offering of financial education to the high school studentswill aid in enhancing their personal well-being (Borodich et al, 13). In addition, financial education in high school will aid improve theeconomic standards of a given nation in the near future .This isbecause the market requires consumers and sellers who can makeinformed decisions .For this reason, it is imperative to expose highschool students to the strategies that will aid them in preparingthem to make informed and wise decisions. The introduction of financeclasses in high school is likely to enhance the management skills ofthe learners. When comparing the level of financial literacy it isdepicted that most college students have more knowledge as comparedto the high school learners. Nonetheless, the college students denotethat if they had prior knowledge then could have excelled immensely(Borodich et al, 14).

Essentially,the decisions which students make in the early stages of life affecttheir future lives. As such, finance forms an integral part in aidingthe students make decisions on various aspects.Reasonably,theintroduction of finance in high school will enable the teachers togive students insights on subjects such as loans,pensions,insuranceand mortgages. As they grow up, the financial information will besalient in aiding them to calculate the various risks which theymight face as adults (Borodich, Sergey, et al, 16). Additionally, itcan be depicted that if students are taught financial aspects, theyare likely to enhance their fiscal knowledge. They will evade gettinginto serious problems as they will become solely responsible fortheir own challenges.

Typically,the potential to manage funds is a learned skill. Some parents maylack a strong financial foundation and this necessitates the factthat high school education should offer financial teaching (Cole etal, 656). As postulated by Cole et al, 657 it is an excellentperception to teach high school level learner on financial planningwhile using mathematical concepts. According to Cole et al, when mathis combined with financial planning, there is a high probability thatthe students will gain extra skills on how to apply numbers inmanaging money. This implies that the learners will not onlyunderstand the theoretical part of the learned knowledge but also thepractical part of it.

Inmost instances, the theorists have argued that starting educationearlier is beneficial since it aids both the teachers and thestudents to gain experiences at an effective stage. Observably, oncehabits have been established, it is hard to break them (Cole et al,677). For instance, individuals who volunteer themselves to offermanagement programs train students on how they can make personalbudgets. Noticeably, learners who get the concepts in their laterstages of life find it difficult to adjust. Moreover, the issue oftaxation may shock the learners if they come to know it later. Thisis because taxes reduce the salary of employees Cole et al, 698).Therefore it is significant that the students comprehend thefinancial concepts before they encounter them in the real world. Itis depicted that the math courses that are offered by the learninginstitutions may have an impact on the financial outcomes (Cole etal, 679).One possibility is that offering of financial classes inhigh school students is likely to increase capital investment.

Apartfrom the minute facets that students learn, it is salient to notethat when they become adults, they come across big concepts whichrequire financial knowledge. Typically, mathematical skills arevaluable in enabling the students to get an insight on how tocalculate the compound and simple interests, deducting the paywithholdings and identifying the outstanding loan that should be paid(Luksander and Alexandra, 220). Nonetheless, there are myriad offinancial concepts which are foreign to most high school learners.For instance, the Pay as You earn is designed to enable teachers toteach students on various abstractions such as setting goals,managing of debts, evaluating of investment risks and getting aninsight which underlies the distinction between the needs and wants.For example, a learner who has been taught the aspect of amortizationwill have a deep insight on the total cost when making a decision onthe hire purchase terms (Luksander and Alexandra, 225).

Thenecessity for the scholars to ascertain their pay after graduationalso triggers the incepting of financial classes in the high schoolsetting. Moreover, through the concepts, learners will get todetermine their weighted student loan when they join the higherinstitutions of learning. As such, when financial concepts are taughtat the high school level, learners get a chance to face the adulthoodwith an exquisite discernment on how money works and how they canutilize the available funds to achieve their goals and financialneeds (Yates, Dan, and Ward, 58).

Inincepting the finance class, in the high school level curriculum, thecourse should be offered as an elective one. As such, the personalfinance topics should be included in the class. The topics willprovide students with a strong solid foundation and perception on howthe finances function especially when they leave high school (Yates,Dan and Ward, 54). In reality, schools are tasked with the role ofpreparing the students to face the real world. The levels ofeducation are salient in that they equip learners with the skillsthat enable them in moving to the next ladder. As such, high schooleducation is known to prepare students to face the real world. Forthis reason, adding of the finance class on the curriculum will aidthe students to exhibit a potential start in the near future. Ifstudents complete high school level education while having aremarkable grasp on the assets, taxes, student loans, credit cards,investments, liabilities and interest rates, their economic strengthwill be enhanced. In addition, the economy of a country will improvesince the students will venture into more investments.

Oneof the suggested topics that should be covered is on how to make abudget. Principally, if funds are well budgeted for, then it is vividthat money will not be wasted. In many instances, adults encountercircumstances that require them to make use of the budget in order tomeet the targeted needs. Therefore if the learners understand how tocreate a good budget then they will make use of the resources in aneffective way. Balancing of checkbooks should also be included in thefinance class learning. Typically, mistakes are prone to ariseespecially in the preparation of checkbooks. This may trigger theaccount owners to depict wrong deductions concerning their bankbalances (Yates, Dan and Ward, 56). However, equipping students withthe knowledge on how to balance the checkbooks will help decrease thenumber of errors committed when preparing the checkbooks.

Thetopic of insurance is also paramount in regard to the financeconcepts. The rationale behind including insurance in the financeliteracy class is that it will equip students with knowledge andskills which will aid them in ascertaining the benefits and costs ofhaving insurance at an early age. This enables the learners to becomefinancially responsible. Saving and investment is another area thatshould be given dire consideration when making a decision in thefinance class. Principally, if students understand how to save anadequate amount of funds then the economy will grow (Yates, Dan andWard, 57). In addition, investments are presumed to enhance acountry’s economic status. Apart from yielding benefits to theeconomy, it is paramount to point out that learners will also reapmany benefits since they will accumulate a huge net worth that willaid them in recession time.

Thetopic of Real Estate also explains the reasons as to why financeliteracy classes should be offered to high school learners. Inpractice, for the real investment projects to be viable, they shouldbe financed (Samkin et al, 8). As such, learners who understand thefinancing concepts will have a deeper insight on the tools they canuse to fund their projects.

Fromthe foregoing discussion, it is paramount to articulate thatimplementing of the finance classes high school level will have apositive impact on both the students and the teachers. In the firstcase, the learners will get to determine how their financial actionsimpact on their lives. If they make use of the concepts, they willknow how to save and invest in order to survive in times of afinancial crisis (Samkin et al, 30). In addition, they will apply thetheoretical concepts learned in class. In so doing, their level ofunderstanding is prone to increase since they will evaluate on howthe aspects learned class are related to the daily life experiences.Teachers, on the other hand, are likely to benefit from theimplementation since it will be easy for them to pass the knowledgeto the students. Arguably, this is because when students apply thetheoretical concepts in real life encounters they are likely to graspthe knowledge in the most effective way.

Inthe light of the above discussion, it is evident to comprehend thatfinance classes should be incepted in the high school level oflearning. Reasonably, the future working skills that will aid thelearners to be financially productive should be taught at an earlylevel. Due to the fact that the learners will encounter advancedfinancial concepts in college, the aspect learned in high school willact as a preparation of what should be taught in high institutions oflearning. In addition, students who will prefer enrolling in businessand finance courses in colleges will have an exquisite advantagesince their grades will be high given they have prior knowledge. Theteachers will also benefit since the curriculum will be advanced. Assuch the level at which students grasp concepts is likely toincrease.


Borodich,Sergey, et al. &quotHowFinancially Literate are High School and College Students?The Cases of The United States, Belarus, And Japan.&quot&nbspAlliedAcademies International Conference: Proceedings of The Academy forEconomics &amp Economic Education (AEEE)&nbsp13.1 (2010):12-16.&nbspBusiness Source Complete. Web. 29 Nov. 2016.

Cole,Shawn, Anna Paulson, and Gauri Kartini Shastry. &quotHighschool curriculum and financial outcomes.&quot&nbspJournalof Human Resources&nbsp51.3 (2016): 656-698.&nbspBusiness SourceComplete. Web. 29 Nov. 2016.

Luksander,Alexandra, et al. &quotAnalysisof The Factors That Influence the Financial Literacy of Young PeopleStudying in Higher Education.&quot&nbspPublicFinance Quarterly (0031-496X)&nbsp59.2 (2014): 220-241.&nbspBusinessSource Complete. Web. 29 Nov. 2016.

Yates,Dan and Chris Ward. &quotFinancial Literacy: Examining the KnowledgeTransfer of Personal Finance from High School to College toAdulthood&quot.&nbspAJBE&nbsp34-58.1 (2011): n. pag. Web. 29 Nov.2016.

Samkin,Grant, Mary Low, and Jordan Taylor. &quotIncorporatingFinancial Literacy into The Secondary School Accounting Curriculum: ANew Zealand Perspective.&quot&nbspAustralasianAccounting Business &amp Finance Journal&nbsp6.4 (2012):5-30.&nbspBusiness Source Complete. Web. 29 Nov. 2016.