Personal Finance in Schools: A Key Curriculum Change

Daily writing prompt

What’s a thing you wish schools actually taught?

One thing I wish schools actually taught everyone is personal finance and how to file taxes. In my opinion, incorporating financial topics like personal finance in school curriculums is crucial for preparing students for the real world. When I was in high school, financial education was available, but it was an elective. I think it should be required for every student.

Almost everyone will eventually have to manage a bank account, create a budget, build credit, take out a loan, save money, and pay taxes. Interestingly, most students encounter all these challenges, yet so many never had any form of personal finance in schools as part of their required coursework. Yet many students graduate without understanding how interest works, what affects a credit score, or even how to read the deductions on their first paycheck.

Taxes should be part of that education too. Students should learn how to read a W-2, understand basic tax forms, and file a simple tax return. Including personal finance topics in schools means they should know what federal and state taxes, Social Security, and Medicare deductions on their paycheck actually mean.

Schools should also introduce students to saving, investing, retirement accounts, and compound growth. They don’t need to become financial experts—they just need a solid foundation before entering adulthood, which is why personal finance in the schools’ curriculum plays such an important role.

Personal finance shouldn’t be an elective. It should be a graduation requirement. Above all, giving everyone access to personal finance in the context of schools helps level the playing field. We spend years preparing students to earn money. We should also teach them how to manage it.

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