Financial Literacy, Beyond The Classroom Analysis
Financial Literacy, Beyond the Classroom has the most relevance on the topic of finding new ways to teach financial literacy to people. It gives examples of how financial literacy can be taught and simplified. “for example, by including household finance in the basic high school curriculum” (Thaler 1). “High school seniors should receive help in how to think about a student loan and how to make sure that the education bought with the loan offers good prospects for repayment” (Thaler 1).
Source one gives information on the effects of financial teaching in schools and how it would benefit. Source two gives reasons as to why personal finance classes would be ineffective and would make little to no difference in just the classroom.
To many people, financial responsibility and handling money can be a difficult subject to grasp. Many people do not know how to use their money properly, or how many variables affect the value and amount of money they have. Some may argue …show more content…
These classes have shown many cases of benefiting short term and long term through people's lives. In the article, “Working Financial Literacy in With the Three R’s” Michael S. Gutter shows results of research on the effectiveness of the aforementioned classes. “College students who came from states where there was a course required were more likely to budget, were more likely to be saving, were less likely to have maxed out their credit cards in the last year and were more likely to be paying off their credit cards fully” (Bernard). Gutter also mentions that “Social learning is also very powerful as well, what your parents tell you matter” (Bernard). This means that along with education in school, the combined efforts or teachers and parents offers large impacts in the financial success of the student, giving further reasoning for the necessity of the
Source one gives information on the effects of financial teaching in schools and how it would benefit. Source two gives reasons as to why personal finance classes would be ineffective and would make little to no difference in just the classroom.
To many people, financial responsibility and handling money can be a difficult subject to grasp. Many people do not know how to use their money properly, or how many variables affect the value and amount of money they have. Some may argue …show more content…
These classes have shown many cases of benefiting short term and long term through people's lives. In the article, “Working Financial Literacy in With the Three R’s” Michael S. Gutter shows results of research on the effectiveness of the aforementioned classes. “College students who came from states where there was a course required were more likely to budget, were more likely to be saving, were less likely to have maxed out their credit cards in the last year and were more likely to be paying off their credit cards fully” (Bernard). Gutter also mentions that “Social learning is also very powerful as well, what your parents tell you matter” (Bernard). This means that along with education in school, the combined efforts or teachers and parents offers large impacts in the financial success of the student, giving further reasoning for the necessity of the