Financial Struggles That May Be Preventable

There are many struggles that we all face as both children and as adults.  I have struggled with budget management since I was young.  I am sure that I am ONLY one out there that has had this struggle. I remember when I got my first car (Ford Ranger) and was so excited about the freedom that I had, able to drive anywhere that I wanted and there was nothing to hold me back!  I assume that my 16 year old mind thought that cars and trucks ran on their own and I completely skipped the step in my thought process about how I thought I was going to keep gas in it.  The job that i relied on for my "running money" was at a local butcher shop, on Saturday's only, and I made, get this.....a WHOPPING $5.15 an hour!!!! I am pretty sure that, after taxes, I cleared an impressive $30 a week! I learned (or realized at least, I don't know that even now I have "learned" this) that money comes a lot harder than it goes.  I learned that i had to prioritize in order to make the best decision and I had to make that money last.  

In my opinion, financial planning and making sound financial decisions are some of the areas that should definitely be touched on a lot more in schools.  This is a common struggle for many individuals, young and old.  As educators, our role is to help develop people for the workplace and prepare individuals to be successful in life and budgeting and being financially smart is a vital role in being successful and leading a life that is as low-stress as possible.  The standards that should be covered are:

FP.PFL.1.1 Explain how education, income, 

career, and life choices impact an 

individual’s financial plan and 

goals (e.g., job, wage, salary, 

college/university, community 

college, military, workforce, skill 

development, social security, 

entrepreneur, rent, mortgage, etc.).

FP.PFL.1.2 Explain how fiscally responsible 

individuals create and manage a 

personal budget that is inclusive of 

income, taxes, gross and net pay, 

giving, fixed and variable expenses 

and retirement (e.g., budget, 

financial plan, money management, 

saving and investing plan, etc.).

These standards should be introduced and discussed starting in Kindergarten.  Obviously, the detail in which it is discussed at that age would have to be minimal.  However, this is such an important area because it effects everyone.  It should be introduced early, and each grade level should build upon the previous.  This could allow our future leaders to make better financial decisions and start practicing making a budget to prepare for their future careers and families.