Financial Skills

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Teaching Financial Skills

To

High School Seniors

CharlesJoel Smith

10/31/13

Dr. Bozeman

For students in high school, school can seem pointless because nothing that they learn seems to apply to their daily life. There are several important financial skills that these students can learn to be able to better function in the world. The financial skills students can learn will impact the students so; they can see the real-world advantage of having them. In 2008, the United States was hit with a recession. There were three parts of the economy that were affected leading up to 2008. The mortgage crisis in 2006 and the bank closings crisis of 2007 then finally spread to the general citizen’s economy and the stock market. The recent recession can be a teachable lesson for the youth on how to better financially prepare for crisis like a recession. High school seniors at Arabia Mountain High should be offered a chance to earn volunteer hours through financial skill courses after school hours. The First course to be offered should be on banking. Allowing a student to have their own bank account with a debit card or checkbook will teach them about monitoring their spending habits. The student will need to both balance their checkbook and keep track of their debit card use. The course will teach about choosing the right account so, that the student can have an account backed by a parent. This can help avoid overdraft fees. Many students have part-time jobs or receive money gifts but students have no secure place to put it up. Students would likely receive a check and go to nearest check cashing store to cash their pay. Students can be taken advantage of by walking around with large amounts of cash or be carless with the money. If the students have a savings and checking accounts it can be safer and more secure for the students. Also save on being charged to cash a check....