Things They Should Have Taught Us at School: Personal Finance

The Missing Piece in Education

Imagine graduating high school with a solid understanding of algebra, literature, and history, but having no clue how to manage your money. This is the reality for millions of students worldwide. While we spend years learning about the Pythagorean theorem, we spend zero time learning about compound interest, budgeting, or how credit cards work.

The Cost of Financial Ignorance

Financial illiteracy has real, measurable consequences:

- Credit Card Debt: The average American household carries $6,194 in credit card debt

- Student Loans: 45 million Americans owe $1.7 trillion in student loan debt

- Retirement Savings: 21% of Americans have no retirement savings at all

- Emergency Funds: 40% of Americans can't cover a $400 emergency expense

What Should Be Taught

1. Budgeting Basics

Understanding how to create and stick to a budget is fundamental. Students should learn:

2. Understanding Credit

Credit scores and reports affect everything from apartment rentals to job applications:

3. Saving and Investing

Compound interest is often called the eighth wonder of the world:

4. Taxes

Understanding taxes is crucial for financial planning:

5. Insurance

Protecting yourself and your assets:

The Ripple Effect

When people understand personal finance, the benefits extend far beyond individual households:

- Reduced Financial Stress: Money problems are a leading cause of stress and relationship issues

- Better Economic Decisions: Informed consumers make better choices

- Stronger Communities: Financially stable families contribute more to their communities

- Economic Growth: A financially literate population drives economic prosperity

What Can We Do?

For Parents

For Schools

For Individuals

The Bottom Line

Financial literacy isn't just about money—it's about freedom. It's about having the knowledge and skills to make informed decisions that affect every aspect of our lives. By teaching personal finance in schools, we're not just creating better money managers; we're creating more confident, independent, and successful adults.

As we continue to build Ficy, our mission is to fill this critical gap in education. We believe that financial literacy should be accessible to everyone, regardless of their background or current knowledge level.

The question isn't whether we can afford to teach financial literacy in schools—it's whether we can afford not to.