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NJ High Schools May be required to teach Seniors Finance 101

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Mortgage and Lending with CMG Home Loans NMLS 248937

 Finance 101 could become a part of NJ High School's curriculum

 Almost 15 years ago I moved to Toms River for the School System, and now Both of my kids have worked their way from kindergarten on up and are now in High School at Toms River North.

I have been very happy with the schools and the teachers so far.  My only complaint about Schools in general (across the country) is the lack of the basics people need to survive after graduation.

I remember one of the first couples I sat down with to qualify, way back in 1987. They were clueless, they did not even know how much money they had in the bank, and they wanted to buy a house??  I was just a kid myself fresh out of college.... but for some reason I knew about "stuff"  you know the stuff I am talking about... the basics.. If you use your credit card, you have to pay it back, How to write a check, put some money in the Bank etc.... I don't remember my parents beating me over the head about money... but I guess I learned through osmosis.

So for the past 20+ years I have been annoyed by the missing piece in our education system... UNTIL... yesterdays paper.  The NJ State Senate Education Committee has a bill that will teach High School Seniors how to :

  • Write a check
  • Manage credit card debt
  • obtain a mortgage

WOW, some one listened to me!  (or read my mind at least).

Of course this is just the early planning stages, and my kids may not benefit from it, but IT IS ABOUT TIME! There are concerns about how to fit it into a school day, Etc... It is such basic and necessary knowledge that EVERY child will use and NEEDS, that I don't see how it has slipped through the cracks for so long.

So if you happen to have the ear of a Senator, Tell them it is a good idea for our kids to know a little finance 101!

 

Rob

Robert Rauf

(732)223-1630 x102

Real Estate Mortgage Network

REMN

 

 

 

 NJ Mortgages, New Jersey Mortgages, Mortgages in NJ, mortgage in New Jersey, Mortgages in New Jersey

 

Robert Rauf
CMG Home Loans - Toms River, NJ

I have to say: it is about time!  I hope it becomes part of the curriculum

 

Jan 28, 2009 06:31 AM
Ian Niquette
Square One Home Inspection - Markesan, WI

It is about time. This should be required curriculum in my opinion. There are lots kids who finish school and have no clue whatsoever on how to manage finances enough just to survive. Looks like  step in the right direction.

Jan 28, 2009 08:22 AM
Robert Rauf
CMG Home Loans - Toms River, NJ

Ian, you and I think the same way.  Lets hope this catches on.

Jan 29, 2009 12:54 AM
Ian Niquette
Square One Home Inspection - Markesan, WI

I hope it does, otherwise this world is going to be in even MORE trouble than it already is. I was just talking about this subject with my brother-in-law. His daughter is a freshman in high school. they do not offer any financial type classes at all.

The biggest problem I see with this is....If this is left to parents to teach to kids. Well, if mom and dad don't manage finances properly, what are they teaching the kids. Viscous cycle I believe.

So, yes, I think it should be REQUIRED, not an option. Good luck, hope things turn out on this for your area.

Jan 29, 2009 03:00 AM
James Graner
Residential Services: http://appraisalmo.com - Saint Charles, MO

Excellent idea. Perhaps they can teach people that their house does not double as an ATM machine. My generation does not understand that.

Jan 29, 2009 03:37 AM
Robert Rauf
CMG Home Loans - Toms River, NJ

James, the ATM factor is truly hurting people now... and most of them do not even know what they did with the money.

Jan 30, 2009 06:15 AM
Lisa Friedman
Alliance Realtors - Bedminster, NJ
Central New Jersey Real Estate

Rob, I have felt that this has been needed for a long time.  How it is not already part of an education, boggles my mind.  And as Ian wrote above, if the parents can't manage money, then how are they going to teach their kids to manage money?  I highly recommend Robert Kiyosaki's "Rich Dad" series for both high schoolers, young adults and everyone in general.  They even have a book called "Rich Dad For Kids" as well as a few board games to teach about money, most notably the "Cashflow" game which I have played a few times.  If we could teach kids to save and about the time value of money, we would not need any government sponsored social services for seniors as everyone would save responsibly on their own.  Wishful thinking, but hey, it could happen :)  Just make people knowledgeable and get them excited about saving and see what could happen.

Feb 01, 2009 12:59 AM