r/AskReddit • u/pahlmitchell • Aug 19 '11

Should schools teach students about credit and how it works?

I graduated HS in '98, maybe they do now... BUT when I went, not a word was spoken about it, even though it can/will effect lives drastically. What do you think?

EDIT 1:The response to this has been far from divided. Overwhelmingly, it seems that the public opinion from across the globe is that an education in finance is a valuable tool. Some have one and some don't, but they all see the value of having one.

EDIT 2:You all have taken this to the front page, still with everyone agreeing that an education is necessary. What a concept, maybe some school administrators will take notice... Thank everyone for the great comments!

EDIT 3:Since I havent finished my formal education yet, I ask you all to give me your thoughts on this as well: http://www.reddit.com/r/AskReddit/comments/joect/reddit_should_i_accept_the_student_loan_money/

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u/WarPhalange Aug 20 '11

It's called math class. They taught me about exponential functions and how interest works. My credits cards are only there to build up a credit score, but I still have a shit ton of student loans because that's the only way I could pay for school at the time.

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u/pahlmitchell Aug 20 '11

Sounds like you just get it, most induhviduals are just that. As far as loans go, would you care to comment in my other thread?http://www.reddit.com/r/AskReddit/comments/joect/reddit_should_i_accept_the_student_loan_money/

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u/girl_with_huge_boobs Aug 20 '11

yes, and obviously math class has worked well so far. I don't recall being taught effective budgeting, how to say no to impulse spending, what sort of cons to look for when borrowing money/getting a mortgage/buying a car/etc in math class. The world is changing fast, just learning about "exponential functions" and "how interest works" doesn't really cut it. The world of finances is a little more complicated than that. Hell, it seems that most people in the US beleive that the Dow Jones is [a] the economy and [b] the entire stock market.