tag:blogger.com,1999:blog-8318734518772387227.post8004969740505001165..comments2024-03-19T05:14:54.748-04:00Comments on Lisa Nielsen: The Innovative Educator: Preparing students for real-world financial successLisa Nielsenhttp://www.blogger.com/profile/07759123507185453030noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-8318734518772387227.post-10168205079140398302013-04-17T09:09:17.384-04:002013-04-17T09:09:17.384-04:00I think the lack of financial education in the vas...I think the lack of financial education in the vast majority of public schools is a disgrace. High school students graduate knowing advanced math but not what profit margin is. Many graduates don't know how interest rates affect a loan payment or the amount of principal that will have to be repaid. On a 30 yr. loan for $100,000 the interest paid at 3.5% is $61,645, on the same loan with an interest rate of 8% the amount is $164,152, nobody thinks this important? I can tell you who does teach economics to children, the very wealthy, they show their kids what you need to do to accumulate wealth over the long term. As long as there is a lack of financial education in public schools we are doomed to the huge income disparity we currently have.Tim Lampshttps://www.blogger.com/profile/11996601214249793805noreply@blogger.comtag:blogger.com,1999:blog-8318734518772387227.post-47388161884829249572013-04-16T22:49:27.084-04:002013-04-16T22:49:27.084-04:00I agree! In my junior high typing class I teach a ...I agree! In my junior high typing class I teach a unit where students are simulating a college student and they have to manage their budget. They get to choose a job, apartment, how much money to spend on food and entertainment, whether to get a car or take the bus, etc. Each month they get random life events such as a flat tire, stolen backpack, money from Mom and Dad, a raise at work, and events that effect how many hours they worked (illness, cover an extra shift, bus was late). They really enjoy it, but you'd be surprised how many still choose not to change their oil or to go to work rather than retype their term paper when their computer crashes.Kylehttps://www.blogger.com/profile/04001066491700589802noreply@blogger.com