Skip to main content

Financial Fitness


South Carolina is proposing that all public school students take a fitness course in personal finance.  A great idea!  Since public schools are teaching so little these days and the colleges have become training schools, it seems a natural that the public school should teach at least one practical skill – beyond reading poorly, writing poorly, and with little ability at math.  At least, our youngsters will begin to understand finance charges, interest rates, and payment costs.
Personally, in high school, I took a business math course, and it was among those courses I still remember many years later. It took me years to educate my college educated daughter about the huge cost difference of just one-half a percentage point meant on a house loan.  Kids are not born with this knowledge!
In years of teaching math, it is rare that students...
  • Know how to compute interest, or even understand interest.
  • Know how to compute a mortgage payment, have even a clue how much a small change in interest may cost.
  • Know what a future value is. 

A financial fitness course covers these topics, and they are most important in life.

Labels:

Comments

Post a Comment

Please Comment.

Popular posts from this blog

Behavioral Science and Problem-Solving

I.                                       I.                 Introduction.                Concerning our general behavior, it’s high about time we all had some understanding of how we operate on ourselves, and it is just as important how we are operated on by others. This is the wheelhouse of behavioral sciences. It is a vast subject. It touches our lives constantly. It’s influence is pervasive and can be so subtle we never notice it. Behavioral sciences profoundly affect our ability and success at problem-solving, from the elementary level to highly complex wicked problems. This is discussed in Section IV. We begin with the basics of behavioral sciences, Section II, and then through the lens of multiple categories and examples, Section III. II.     ...
Post a Comment
Read more

Where is AI (Artificial Intelligence) Going?

  How to view Artificial Intelligence (AI).  Imagine you go to the store to buy a TV, but all they have are 1950s models, black and white, circular screens, picture rolls, and picture imperfect, no remote. You’d say no thanks. Back in the day, they sold wildly. The TV was a must-have for everyone with $250 to spend* (about $3000 today). Compared to where AI is today, this is more or less where TVs were 70 years ago. In only a few decades AI will be advanced beyond comprehension, just like TVs today are from the 50s viewpoint. Just like we could not imagine where the video concept was going back then, we cannot really imagine where AI is going. Buckle up. But it will be spectacular.    *Back then minimum wage was $0.75/hr. Thus, a TV cost more than eight weeks' wages. ------------------------- 
Post a Comment
Read more

Fake News

If you've been following the news the last couple of days, you will note the flurry of copy devoted to fake news.  Both sides are blaming whatever has befallen them the consequence of fake news.  Let's look at this phenomenon a bit.    When I was a student years ago, a friend climbed some mountain in Peru.   A article was written in the local newspaper about the event.   In only three column inches, the newspaper made about six errors.   An easy article to write you say?   Just interview and reproduce.   Yet so many errors?   The question is this: was this fake news or bad reporting?   The idea here is that fake news comes in various flavors. Bad reporting – errors made by the author or editor Opinion presented as news     Deliberate creation of falsehoods to favor a point of view       The reporting of selected truths to favor a particular point of view Now we have the big social media ...
Post a Comment
Read more