by Hope
I’m sure it’s not news to the BAD community that the American public education system (maybe private too) is failing our next generations by not teaching financial literacy in our schools. While I believe the original mindset was that it would be taught at home, it’s definitely not, and it’s a failure we should correct.
This was brought to mind when I saw this graphic online, and was like “Yes!” And sadly, this is the story of my life. Yes, I know, I know.
Senior Year Win
I’m not sure I’ve shared this story before. It’s about the evolution of Princess education and how she ended up with a Bachelor’s of Finance. Yes, I know this has nothing to do with my debt journey, but I would say that my children had a pretty solid education on what not to do financially from me. Coupled with an education about the nuances of personal finance – budget, forecasting, credit score – as I learned about them.
But it was her senior year of high school when she ended up in a high school economics class that her vision of finances really broadened and became real world. I am pretty sure it was a required course. Last semester of her senior year.
I have no idea who the teacher was, but I am so grateful for her. She had the kids “buy” stocks and track them and report on them and research them and discuss them. Princess fell in love.
She had already been accepted to college as an engineering major. But before the semester was over (high school), she had contacted the college to change her desired major to economics.
Freshman Year Change
We had already planned her college route. Get the basics out of the way, and then focus on the major classes at the end. But sophomore year, she was in gen ed money related class. And that professor altered her path after meeting with her during office hours a few times. He identified her aptitude, inquisitiveness, and basic financial competence, and recommended she join the college club affectionately referred to as SMIF, Student Managed Investment Fund.
Through that experience, she once again changed her major from economics to finance and the rest is history. Through SMIF, she was able to travel to New York several times for competitions, was exposed a corporate world that both challenged and embraced her, and built her confidence in presenting, researching, and growth in ways I never could have imagined.
What’s next for her…
I’m so grateful that she is already so much further ahead than me in her knowledge of finance. And I’m especially grateful that one of my brothers is also in the corporate finance world so she’s had someone we trust to guide her, understand what she’s talking about, and I can’t wait to see what’s next. She’s now completed her onboarding training in the commercial banking world as an analyst, and is loving her job.
Hope is a resourceful, solutions-driven online business manager with over two decades of experience helping clients streamline operations, manage projects, and grow their businesses through digital marketing and technology.
But life has a way of rewriting your plans.
A year ago, Hope made the decision to move in with her aging parents full time – a season she wouldn’t trade, even as it came with its own financial and emotional weight. Earlier this year, she lost her mother, and is now walking the tender, disorienting path of grief while learning what “forward” looks like from here.
Hope came to the Blogging Away Debt community in 2015 as a single mom raising five foster and adoptive children. She’s written through job changes, financial setbacks, and the bittersweet transition to an empty nest. Her kids are finding their footing in the world now – and so is she.
Rooted in faith and fueled by the same perseverance she’s brought to every hard season, Hope is ready to face her finances with fresh eyes and an honest pen. She believes that clarity, courage, and community can change the trajectory of anyone’s story including her own.
She lives in Austin, TX with her dad, loves adventures with her dog Addie, and is figuring out, one step at a time, what this next chapter is meant to be.
A simple Google search will tell you that only 2 states and DC don’t currently require some financial literacy education standards or courses. Maybe previous generations missed it, but that mistake has been corrected.
If the public education system is failing kids, why did she get such a good education that you are then lauding in both high school and college?? Good for her, it sounds like she is on a road to success but not sure why you’d trash the education system that gave her these opportunities?
I agree that financial literacy should be taught in schools but some of us had to learn the hard way and some of us never learn at all. You’re a good example – going against sound advice and the literal point of the meme you posted to sell your only appreciating asset.
The irony of that was not lost on me either. Good grief.
Hope since you homeschooled your children I assume you taught them financial education? If not why?
Nice job! Congrats to her. I can’t understand why we let 18 year olds borrow tons of money at high interest rates, with no plan on how they are going to pay it back, or if it will even be worth it. The system is pretty broken. An 18 year old has no idea how much $30,000 or $50,000 dollars is, and how much they will need to make, or how long it will take to pay back. Fantastic that she was able to get through without loans. I think seeing you in your 50s still paying back money probably was actually helpful to her. Our schools, even colleges, don’t really teach financial literacy. I’m an MBA and never had any real personal finance taught to me.
Normally I think you are spot on JP but literally the only reason that Princess had zero loans is because her mom bankrolled her education at the cost of her own retirement. There is not a single financial planner I know that would have suggested this.
Wow if so that’s not good. I thought she got scholarships? I know Georgia is good about that. One of my kids is taking some students loans. Not a whole lot but her tuition is very expensive(elite school). But its not tanking our finances and I will most likely pay them off for her in the future or at least help. Our other child is going to a state school and we are funding it as we go. Again, neither of our kids’ college fees are tanking the retirement plans for my wife and I. I absolutely would not do that to fund my kids. The greatest gift I can give them is not to have to take care of me when I’m old.
You obviously haven’t been reading long. A year ago, Hope was increasing the balances on high interest (30%) credit cards while partially paying for princess to live in a solo apartment (to the tune of a $750/month contribution), while definitely not saving any meaningful amount towards retirement. Readers often suggested Princess taking a small loan would be preferable to Hope utilizing high interest debt, but Hope did not agree. So, not only was she not funding her retirement, but she was also increasing high interest debt to help princess.
Oh I must have missed that part. I’ve been following along for like 10 years. Sometimes the story just stays about the same I guess. I remembered that she wasn’t taking loans, but I guess I missed the reason why. yikes. I’m letting my kid take some loans just to see how nothing is really free, and they need some investment into their own education. I’m also not letting her get in over her head or risking my own retirement. Yeah I remember when they were all living in a tent or camper I believe, so at least there is progress.
Yep, and if you point out what a short-sighted move that was, oh she gets defensive. We’ve all seen it.
This whole post of hers frustrates me because her premise is wrong. Financial education is being taught. She homeschooled her kids, so maybe she wasn’t aware. I find it extremely annoying when people repeat false information about public schools when they probably haven’t crossed the threshold of one in years. And no, I’m not a teacher. Hope, you need to correct the record.