I earned a 4.5 GPA in high school and graduated from UCLA, my dream college, in 2011. I did exactly what the community told me I needed to do to organize myself. for success. I am on earth!
Then I came out, and I spent 12 of the next 24 months without work. The rest of the time, I did $ 10 / hour internships. I live at home with my parents, on menus, and depressed.
That knowledge made me realize what I wanted to learn in school: How to earn and save money.
Like me, many millennials felt betrayed when we came out. We went into a lot of student debt, just to see The university does not guarantee the American dream. We are the wisest generation; but money is better than our parents.
Yanely Espinal, director of education at Next Gen Personal Finance, received the same report after graduating from Brown University in 2011. She lives on a salary like her foreign parents, which is not over. in elementary school. “I think a lot of people think the education system has failed them, especially for millennials,” the 32 -year -old said.
On average, 18-34-year-olds can correctly answer only 2.5 of the six financial questions, according to FINRA’s 2018 National Financial Capability Study. Only 17% of people in that age group were able to answer four or more questions correctly, up from 30% who were able to answer correctly in 2009.
Experts say that success is more important in this world than a college degree. Living in America is a lot of diving or swimming, as many people know widening the gap between rich and poor. Serious expenses are more expensiveeven if ulu uku was low.
Consumers have easy access to financial products, including hard investments and loans. That’s why experts say you need to be cleaner than to make money and take care of your problems.
“There are these new choices we’re making that weren’t considered by our parents and grandparents,” said Olivia Mitchell, an expert in business and public policy at Wharton School. of the University of Pennsylvania.
High schools are looking to better prepare Gen Z for the real world.
The number of states requiring or immediately requiring students to take one semester of personal finance to graduate from school has doubled in the past three years, from 5 to 11. Utah was the first state require a long -term personal finance plan, starting with the class of 2008. In March, Florida has become a very new and very large state require students to take one semester of personal finance to graduate.
In the 2020-21 school year, It has 7 out of 10 public high school students a full semester of personal finance, as an elective or requirement, such as Next Gen Personal Finance. That’s up from 2 of 3 in the previous school year.
Here’s how financial literacy affects millennials, and how high school is related.
I didn’t learn about money at home, because my parents moved to America to focus on assimilating and earning money. They did not learn about personal finance, even though they were growing up in the poorest of China. Their feeding consisted of changing clothes once every two months, thinking about eating meat and eggs, and sleeping inside. measuring some nights while being required to work as farmers in the countryside during the Cultural Revolution.
Like me, not everyone grows up in a financially savvy family. That’s why fundraisers are fighting for students to learn personal finance in school. Most of the students didn’t really like him at home.
Only 15% of adults talk to their children about household finances More than once a week, according to CNBC + Acorns Invest in You ana ana. One -quarter of parents talk to their children about money less than once a month – and a third of parents don’t.
“Poverty has continued from generation to generation unless that scourge is broken by the education of money and welfare,” said Edwin Gomez, superintendent of schools for Riverside County in Southern California. “You can be financially independent. There are many ways to make money and not just work.”
NGPF’s Espinal grew up poor in Brooklyn after her parents moved from the Dominican Republic with little school education. He was considered the ticket for his parents to a better life, he said, after graduating from Ivy League school on a full -time basis in 2011. But as a teacher in between in his 20s, he struggled to pay $ 20,000 in. Take out a credit card, help his family, and meet his monthly needs.
It was then that he began to learn how to pay off and avoid debt. “I’m like, my goodness, there are some really easy paths and trials. Espinal said.” It was a light -hearted moment. I have to give my career a try to get better financial information. “
Now, Espinal is teaming up with politicians, lobbyists, and community members to support legislation requiring students to learn private finance at school, in its role as is an attorney for the Next Gen Personal Finance Mission 2030 Fund. As a Miami resident, he worked closely with Florida’s new private financial education authority.
Increasingly, high schools are teaching young people critical financial skills I want to learn how to grow.
I’ve seen 17- and 18 -year -olds at Canyon High School in Santa Clarita, California, who are moving toward their short -term and long -term financial goals. They learn about management, spending, debt, investing, careers and more while taking on a personal finance session. The course meets a math requirement, but graduation is not required.
Ryan Leskin used as little as $ 30- $ 40/day to eat out. Now she cuts to just $ 50/week, switching to simple foods for shopping trips. He is saving money to be able to enter the stock market.
Genesis Gonzalez is teaching his parents how to save and save money better. “Sometimes my mom goes shopping on Amazon,” Gonzalez said. “She knew she could save a lot more money than spend hundreds of dollars on things we don’t need.”
Joshua Frenya says personal finance is one of the most important assets he is taking. “I didn’t think geometry would cost me a million to be true,” he says.
Canyon High School began its first private fundraiser in 2015, thanks to former teacher, Kim Arnold, who had the school board on board, and local fundraiser Brendie Heter, who provided the necessary funds for the course and books.
In 2018, nine high schools in the William Hart School District began offering a long -term personal finance program. A 10th -district high school, which opened in 2019 with a team of just nine, will have its first seniors next year – and run its first private fundraiser to benefit them.
Heter’s private finance students encouraged him to fund these classes. “We felt the demand and the voice of regret from the parents,” he said.
“The mantra that often comes from parents, ‘I want them to learn this in high school. I think I’ll learn this first’ – almost kind of annoying. So my husband and I stayed and we hooked up. to some other supporters and colleagues in town and say, ‘let’s do something.’ “
The article “I think schools have fallen on millennials when it comes to real financial education. Here’s how they prepare Gen Z for the job″ Ma was first published Ulu (CNBC + Acorns).
I think schools failed millennials on money education. Here’s how they’re prepping Gen Z for success Source link I think schools failed millennials on money education. Here’s how they’re prepping Gen Z for success