The switch from high school to the real world is drastic, and it can be difficult for young adults to understand all the things they need to be responsible for. They must be able to handle taxes, living expenses, phone bills, credit card bills, and if they choose college, they must be able to find ways to pay for it.
Some young adults can feel overwhelmed with this new task, and feel as though they do not have the resources to achieve it. This begs the question on should a financial literacy class in high school be mandatory?
One major class that all seniors must take and pass to graduate from Kelly Walsh, is a Financial Literacy class. In the class kids are taught ways to manage their money on their own once they graduate. It is the hope that the class will provide students with resources for their future in how to manage their finances. However, some students who take it find it either unnecessary as it teaches them things they already know or biased to certain social classes.
The Center For Financial Literacy writes, “Young people often do not understand debit and credit cards, mortgages, banking, investment and insurance products and services, payday lending, rent-to-own products, credit reports, credit scores, etc.”
If young people are provided with this knowledge earlier on in their life, they may be less overwhelmed and make smarter financial decisions.
Hayden Mayfield, a 12th grader, when asked if he felt that the financial literacy class he took was important, said “I believe that to an extent it had. Coming from a perspective of a single income home much of the information within it seemed more suited to individuals already with less chance of going into debt. Some of the lessons weren’t realistic to many families living in America as opposed to the lucky few who can get by without a credit score or loans.”
“I think financial literacy helps with some things that we have never been taught that we will need possibly in the future like writing a check and even stock market type stuff,” 12th grader Emily Litzinger, answered to the same question.
The advice that is given in the class is catered to upper-middle class and above citizens, and some students of different backgrounds may find this unresourceful. The class does, however, teach many different important skills and financial terms that can be beneficial, and give at least a basis for financial literacy.
12th grader Emerson Levin said the most important thing she has learned in the class is “How important it is to not get deep in debt because it’s super hard to pay off”
Though the class can seem like a drag and irrelevant to some, financial literacy helps students learn important terms that they will be using in years to come. Some advice may seem as though it does not fit their background, yet the class could find different resources to all social classes. All in all it should be mandatory for students to take financial literacy as in the end they will be much more prepared for the real world.
