Birds and Bees are; Why not credit as a curriculum?
Birds and Bees are; why not Credit as Curriculum???Credit is probably one of those discussions most parents don’t have with their children. It is surely a subject that will probably go by the way of the Birds and the bees. . . . let them learn it on the street.
Truth be known, most parents don’t completely understand the world of FICO scores themselves?
Credit is the basis for just about everything these days. I mean just about EVERYTHING. What if we started teaching kids about credit in school?
I am talking about early in high school not college. By then it is probably too late.
By the time they get to college, they are already spending money pretty regularly and have been given the “college credit card”. All you have to do is sign this paper and viola’ you have a credit card. Ahh . . the mighty credit card, what fun and/or dangers may lurk ahead?
My Mom and Dad didn’t explain credit to me. They said if you have a bill you have to pay it and be responsible for it. Save your money. Take part of your allowance and save it. Do odd jobs, get paid, and learn how to deal with your money. Those were the basics of money. Not watch out for your FICO scores?
I think if there could be a class that kids take early in high school where they understand the importance of how credit works, what to do and not do in order to keep themselves in good standing and understanding the importance of good credit. I guarantee we have young people who would like to buy a home and have their credit pulled to find out that they have ruined their credit for the next few years and they have no idea how that happened? When you try to explain it to them, you might as well speak a foreign language. Maybe the Montgomery County and Maryland School systems could investigate this and see if could be added as a “life course” of some sort? If it is being taught, is it taught in all schools or is it only taught in certain schools? If so, why is that?
I think this phenomemon of making this very basic financial tool could drastically help improve the US economy. The American consumer would have less debt, intrest rates could be lower, less bankruptcies, which all end up falling on the shoulders of the American citizen and the bottom line of the economy.
This might just save a few kids from making mistakes in their youth that could save them many dollars in the years to come.
What are your thoughts on this subject.
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