The most important thing (other than the article itself) is something that appeared elsewhere on the WSJ site and that is education.
They reference it as a civil right issue. And on this one thing, I agree.
I was trained as a CFP (Certified Financial Planner) but ended up in the business of my first love...plants. Go figure.
My sweetie is a teacher. I cannot tell you how many times I’ve railed at him over this. Instead of spending a 42 minute class period on....diversity, sex ed, “green” training, and all the rest....
WHY AREN’T WE TEACHING KIDS MONEY MANAGEMENT ??????
Instead of setting up these outfits in neighborhoods to teach adults about this, this MUST become a classroom endeavor. It is worth that 42 minutes of classroom time.
Teach about checking accounts, credit cards. Teach about why payday loans suck. Explain how credit works.
I’m proud to say the state of Utah has passed such a measure. The rest of the country needs to follow suit.
You have to teach them how to add and subtract first.
“this MUST become a classroom endeavor...”
I agree completely. It should be a requirement for graduation. On another note - they should also require a government class. It was required by my school to graduate. We learned about the branches of government, the separation of powers, etc. We even had to study the Constitution - and what it meant. I think it made my classmates and I better citizens.-—JM
“Teach about checking accounts, credit cards. Teach about why payday loans suck. Explain how credit works.”
Explaining how it works is meaningless to teenagers.
They need concrete lessons such as being forced to spend a Saturday doing demeaning boring work. On Monday, they are handed 70 dollars for their labors. Then they should have to stand in line to file past a series of tables manned by representative government agencies. At the first table, for example, the IRS takes away 20 percent, the next table, FICA, etc. Be sure to include representative property, school, and other taxes.
When they are done they will be holding twenty or so dollars for their efforts. Declare they are wealthy and take another ten percent from them for the common good. Then take the money confiscated from them and buy pizza for another class.
Of course, to be fair, offer to let them buy their own from what they have left.