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Financial and wealth management should be an integral part of education from Elementary level. Have a program where the kids learn to invest

The stability and growth of economies is integral in the development of all countries. Why not have an ongoing progam from the elementary level where the students learn how to invest and actually do this and see the results as it grows through the years up to Grade 12. They would leave school with a second nature understanding of this important skill that would impact on their personal and community and ultimately their country. IF we identify the areas in life after school where as societies we are failing and build those into curriculum..gender communication is another one.. environmental education.. nutrition for good lessons..sustainable education

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    Aug 22 2013: if we don't know how to manage the economy, how can we teach it? what would you teach specifically, in detail?
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    Aug 22 2013: Elizabeth,
    I agree in part, though with others here I pause at the idea of teaching "how to invest" because the individual investor is now largely at the mercy of the computer trading programs that drive stock prices irrationally up and down for the purpose of getting advantage out of momentary gains (or losses) in the stock prices. Long-term investment in sound companies is another matter, and is a positive value, though it's hard to figure how sound companies are - they are also at the mercy of traders. I made a suggestion in 2008 at the website Blue Ridge Journal, for the creation of a new publicly funded stock exchange where the investment rules would favor long-term investment and preclude gambling:

    But I agree wholeheartedly that school children need to learn the realities of practical knowledge that's necessary to live as adults in a modern society. This includes basics of law and community life, and especially finance. Young people who may marry and set up a family within a couple of years of high school often have no clue about what awaits them.

    Many young people have suffered from having to learn about household finances "on the job". But it's too complex, and there are too many serious mistakes that can be made. The schools need to teach about everyday financial planning and management, including insurance, credit, contracts and mortgage. About taxes and tax-deferments; about savings, investment, and yes, even about pension. All these and more financial matters quickly become crucial to the young person starting a household; our recent history shows clearly the many destructive traps that unprepared young people may fall into. If youths are not familiar with basic financial issues, our educational program has not done its job.
  • Aug 2 2013: I think it is a little ambitious to teach investing - more than money mgmt - how about the basics, budget, balance the check book, etc. For older grades, middle or high school, a lifetime choosing college, 4, 2, or trade school. buy a house or rent, but a new or old car, etc. through in some variability with random chance - car breaks down, job interview, etc. you could make this very complex.
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    Jul 25 2013: Let me share my personal story. One day younger son who was then 7+ wanted to understand what business means . So I started with basic buying and selling process of simple things like Chocolate , toys. When I was telling him after buying something at lower price seller have to sell at a higher price , he jumped in to it saying " that's not good" . I asked what is not good ?
    "Buying at lower price , selling at high price is not good " he told .
    Why you think it's bad , asked him to understand what is going on his mind .
    " it's greed , and being greedy is not good " he answered

    Later I tried to convince him by giving all the justification of value addition , cost of capital in a simple way with in my capability , but it seemed he was not convinced with that profit concept ........
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    Jul 25 2013: Forgive my following sarcasm, but what is your understanding to 'learn how to invest'?

    Do you mean the hyper nervous stock market for them to learn to reward a company which announces layoff programs to increase their 'efficiency', for instance, or how to do high-frequency trading better than the other computer?

    Or more the sort of long-term investments, which are based on promoting a more humanitarian spirit?