Video Transcript: Why Teach Personal Finance?
Joey Running, West Albany High School
There are a number of different reasons to teach personal
finance. I think breaking the poverty cycle is important. We have to remember
that personal finance really is personal. And they learn their behaviors and
their role modeling from whomever's at home.
If they don't understand the behavioral aspect of why
they're making those decisions whether it's purchasing or spending or credit or
insurance or purchasing a car then they find themselves in a situation of
possible debt. And in a sense, going down in a downward spiral into poverty and
I think that is a system that needs to be fixed.
Pandora Fifer, Norfolk Alternative High School
We have a lot of inner-city kids, I actually teach at the
alternative school in Norfolk so we have a very diverse population there. Norfolk
just reimplemented the program about four years ago.
They had it, and then did away with it for ten years and
just brought it back because all of a sudden, they realize our kids really do
need to learn about finance before they go out on their own.
Persis Beaven, Northwest Early College High School
Last year I taught financial mathematics for the first time as an elective.
I had a group of 15 students and the class was a success. Many
of the students requested a class for next year and that helped convince my
principal to make it a mandatory course, and so now I teach it to all of our
It's also alarming that many other students just go out on
their own and they have never talked to their parents about writing a check or
opening a checking account or just financing a car, or how to take care of
Christopher Brida, Benjamin Franklin High School
The reason why I started teaching personal finance is
because it had such an impact on me when I was in high school.
It's really about developing a critical mass and so what
that means to me is, that my students bring personal finance home.
In the neighborhood that I teach, it's a very low-income
neighborhood. A lot of the students don't have even basic personal finance or
any sort of financial literacy whatsoever. Having them learn these skills and
then be able to bring these skills home is something that not only impacts them
in my classroom but also potentially over time, would impact the neighborhood.