Financial awareness in the society

Come on, guys. Really? Personal finances in school? Too complex, let them stick with languages, skills and action- reaction topics. I had an economics course in university, hardly remember anything. And really, what part of your school/high school education you carried over? What you need and what you like? And what 10-14 years old you would think about compounded interest and discounted cash flow? It would be worse than Latin poetry.

People don’t know personal finance because they find it boring. In some way it is good because it means many feel secure. But others who are in a precarious situations definitely lack will to look at and change themselves.

Partially agree, but there is basic finance education that we all need/should know.

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Probably the wrong age group. But as soon as you earn your own money you should be confronted with the facts and some mind blowing numbers in terms of compound interest and budgeting. You‘re then free to ignore it or act up on it.

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It’s also positive when people don’t know too much about personal finance. When consumers blindly throw money at everything they see for their Facebook/Instagram show-off lifestyle, take expensive credits and buy expensive cars with leasing, buy houses they can’t afford just for the sake of owning property, etc. It leads to economic growth which in turn is beneficial for our portfolios. Not everyone can be rich :wink:

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He was being sarcastic, you know :smiley: or I hope so… I mean, what @Dr.PI describes is precisely why we should learn about personal finance. It’s the stuff we will need in life more than about mitochondria, ancient Egypt or ionic bonds. It applies to everybody.

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Not so much. You want it to be taught to everyone → it should be done in the obligatory school → you teach it to 14 years old.

You can’t learn something if you are not interested, that is what I want to say.

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OK then I totally disagree. Teaching about finance doesn’t have to be about complex stuff, just the basics. What kinds of taxes we have and where does this money go and what really happens with it. Then you could mention about the banking system.

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Aha, so let’s teach kids about sex, gender studies, famous YouTubers and Influencers or whatever kids like nowadays. This “knowledge” will stick, because they’re interested in it. Then you see what people choose to study at the university and then they’re frustrated that they cannot find a good paying job.

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well then most you are all “highly educated” people then that went to Liceo or Gymi or whatever other option (I did as well)
My father was a teacher for woodcutter, car mechanics, farmer at a “apprentice school for farm-like profession” , all 14-17 years old, and he was teaching “general culture” and doing things such as contracts, taxes, personal finance, leasing, geography, all kind of “things people should really know about the real world”.
I remember end of year he was trying to discuss tolerance and racism by showing “13th Warrior” with banderas as an arab within a band of vikings.

so it really depends what you choose to do. Sometime it is thought.

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People (in Switzerland) know that there are taxes. They know about 3 pillars system. They know that they can reduce taxes by contributing to 2nd and 3rd pillars. Mostly thanks to banks trying to sell them their expensive financial products, I guess. What else do you include in basics? (Sarcasm on) I would love if everyone learn differentials and integrals at the age of 14, but it is not going to happen.

It’s shocking that someone with a Matura with focus on math/physics knows really a lot and is prepared to study whatever he/she wants but has no idea how taxes work, how to apply for a job, has no idea how our political system works etc.

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Great, but this is already a professional study, not an obligatory one.

No it’s not. You probably don’t know this type of people well. Social skills are not coming automatically with intellect. Big bang theory shows it very well.

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I think that financial awareness is too complex and based both on hard science and social/society knowledge. You can’t expect it to be a part of school program. They are already have a lot to do.

Couldn’t agree more. Humankind has reached a point where supply outstrips demand for the first time in its history. To keep the economy growing someone has to consume this excess supply, that’s where consumerism comes into play. The media with its advertising does a pretty decent job in ensuring that we keep consuming things we don’t actually need and bring no real value into our life (how ironic writing this on my way too expensive smartphone :joy:).
Why should schools teach personal finance and frugalism? This would stop consumerism and stale economic growth…

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This show portrays nerds very poorly, IMO. It shows how normies see nerds, not how they really are.

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That’s definitely not true. I went to the Gymnasium and then studied economics and no teacher ever lost a single word about this. I only gained this knowledge through personal interest in it. Lots of my friends don’t even know this now. My mother that has been born and raised in Switzerland only learned about this quite recently when planning for the upcoming retirement.

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When thinking further about it: you kind of imply that everyone is thinking rationally and is capable/ready to calculate things, like plus, minus, multiplication. From what I know, optimistically less than a half of the population would fit this criteria. I prefer school to focus on this than teaching political system of the country, but I am certainly biased. :grin:

Which is a theoretical discipline. I also studied it and I hardly remember anything.

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