When I was in high school, I started having part-time jobs. It was a way to buy things that I needed and wanted. It was my first taste of responsibility in regard to bills, supplies, and savings. At the time, there was a class I took in my sophomore year. Although it was only one semester, I felt it helped me financially. I learned throughout the years that money comes and goes like a stream in a pond. Most importantly, if it were not for my financial education class, I would probably be less aware of the value of finances.
At first, I was unfamiliar with the class. I had no idea or awareness of what I was getting myself into, but until I met the teacher, that was a bit swept under the rug. He was personable and inviting, but when the lesson came, it was a different story. My teacher actually laid down a lot of lessons. Mind you, this was a financial literacy class, which was more about the market and insurance policies. Still, his teachings were very helpful.
The one that I gravitated toward was the concept of supply and demand. Higher prices cause supply to increase as demand drops. This relationship caused me to understand why companies such as PlayStation and Nike do the things they do. When a product is in high demand, the company tends to raise it to match its value. It really had teenage self blown by this form of cause and effect. It actually encouraged me to be more aware and mindful of industry trends.
Furthermore, my teacher inspired us to open up a savings account. He believed that having one could help with retirement and backup plans. He advised us to always put in at least $100 a week so that it could help us with financial discipline and long-term thinking. At the time, I didn’t truly have access to my account as my parents would split one-fourth of the paycheck to me in cash and the rest to my account. When I was in college, this helped me out more as I became in charge of my own account. This transition aided my journey in the long run, especially in regard to saving my money and using it for the right time.
To end, financial education needs to be in more schools. I was fortunate enough to have a class of that ilk. It’s concerning how states and schools aren’t teaching — or even encouraging kids to take one. Nowadays, it seems like the boards and government intentionally do it so as not to make people financially aware, which is a mistake due to the fear of another recession being in the midst, as foretold by financial analysts. But one thing to note: if you see a financial education class — whether in your high school or college, I strongly advise you to enroll. It can help you mend your finances and habits.
