Robert Kiyosaki, like Suze Orman are two frequent columnists at Yahoo! Finance that I regularly read. On Monday when I saw Mr. Kiyosaki had updated his column I clicked through expecting to see some rhetoric as to how his father made him rich or why the poor deserve to be poor. Instead I was pleased to find something that was actually worth reading: the lack of financial education for children.
That problem is a lack of financial education. Why don’t we teach kids about money in school? Rich or poor, smart or not-so-smart, we all use money. Yet, while there are a few schools beginning to offer some financial education, it seems that most educators believe money isn’t a subject worthy of the hallowed halls of our learning institutions.
It is true, there is virtually no formal financial education in our school systems. Most education comes in the form of a very broad overview of economics. Granted, understanding how the economy works is important, but it is also very dry and has little to do with personal finances. Ask any student in high school how a mortgage works or what the APR on a loan or credit card actually means and you would likely be faced with a blank stare. They might be able to recite every bone in the human body or ask where the bathroom is in Spanish but couldn’t explain what a credit score is or how compound interest works.
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