Should Schools Teach More Practical Life Skills?
Every student should have a practical personal finance course required for graduation, argue many educational experts. However, with the shift towards technology and STEM education, traditional skills like balancing a checkbook are being phased out. This article delves into the importance of teaching essential life skills and why such courses are crucial.
Teaching Essential Life Skills
The argument for including practical life skills in the curriculum is compelling. As schools increasingly focus on STEM subjects and technology, it's essential to balance this with practical skills that students will need in their daily lives. Personal finance, taxes, and balancing a checkbook are examples of such life skills that are crucial for students' future success.
Towards a Financially Literate Society
Every student should have a financial literacy course required for graduation. This course would teach students about essential aspects of managing personal finances, such as budgeting, saving, and investing. Furthermore, it would help them understand the basics of taxes and home finances. These topics are often omitted from school curricula, with the belief that they are a parent's responsibility. However, many parents struggle with these financial issues, making it a significant oversight to not include them in the education system.
Eliminating the Need for Balancing Checkbooks
With the widespread adoption of online banking, the need for balancing a checkbook has significantly decreased. Having one's checkbook to view twice a year is enough to pay property taxes, as mentioned by one parent. This shift to digital banking has simplified financial management for many people. Schools should adapt to this change and ensure that the curriculum remains relevant and practical.
Comparison with Other Countries
Australia is a prime example of how practical life skills are integrated into the education system. By Year 7, students learn about sales tax, by Year 8, they study compound interest, by Year 9, income tax, and by Year 10, annuities and loan repayments. This progressive education helps students understand complex financial concepts step by step. It's also worth noting that many Year 9 students can solve differential equations and matrices, indicating a strong grasp of advanced mathematical concepts.
The Overemphasis on Technology
The push towards technology in schools has led to a significant deviation from traditional subjects. In the mid-1980s, the consumption of school hours with technology didn't exist. However, as schools embraced the computer bandwagon, they found it challenging to accommodate all the subjects they previously taught. Additionally, some school boards required 6th graders to count MM candies by color, create a database, and import it into a word processor – a skill set that many found unnecessary for 6th graders.
Conclusion
While STEM and technology education is vital, it is equally important to include practical life skills such as personal finance, taxes, and balancing a checkbook. These skills are crucial for students' financial well-being and prepare them for the real world. Schools should adapt to the changing times and ensure that their curricula remain relevant and comprehensive.