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To be fair, modern financial planning typically involves a bit of software. Double entry accounting tools or spreadsheets, for instance.

thundergolfer 7y ago
Financial Advice 101 shouldn't need to involve any software. A 101 in Finance isn't "modern financial planning", and giving people who don't understand the 'time value of money' or basic budgeting shouldn't be handed Double Entry accounting tools.
- humanrebar 7y ago
  Adding up columns of numbers is basic budgeting. People typically use software tools for that. Like accounting software or spreadsheets. Having students do financial arithmetic on paper is as helpful and realistic as having them write out essays in cursive handwriting.
  - thundergolfer 7y ago
    I think we're talking past each other, because my Financial Literacy 101 education had basically nothing to do with "financial arithmetic". It was all concepts and foundational equations like compound interest. If you're using the fact that this would involve "spreadsheets" as a way to link it it ICT education which is what this thread is about then I don't even know what we're talking about anymore.
    - kd5bjo 7y ago
      I suspect ‘humanrebar is thinking about bookkeeping more than accounting. It’s largely mechanical, often computer-assisted, and the first necessary step to put any of that theoretical knowledge to use in practice.
    - humanrebar 7y ago
      I think there are a lot of things that could be called "Financial Literacy". I am advocating for something immensely practical for normal working class consumers to set themselves up to manage a household and perhaps a small business. That is, emphasize finances (practically, using realistic tools). Covering basics of Finance is probably fine, but only to the extent that they understand the gravity of a 22% compound interest rate. Being able to do complex calculations with that rate is probably less practical than learning some other things, like knowing how buying a piece of property works.

thundergolfer 7y ago

Financial Advice 101 shouldn't need to involve any software. A 101 in Finance isn't "modern financial planning", and giving people who don't understand the 'time value of money' or basic budgeting shouldn't be handed Double Entry accounting tools.

humanrebar 7y ago
Adding up columns of numbers is basic budgeting. People typically use software tools for that. Like accounting software or spreadsheets. Having students do financial arithmetic on paper is as helpful and realistic as having them write out essays in cursive handwriting.
- thundergolfer 7y ago
  I think we're talking past each other, because my Financial Literacy 101 education had basically nothing to do with "financial arithmetic". It was all concepts and foundational equations like compound interest. If you're using the fact that this would involve "spreadsheets" as a way to link it it ICT education which is what this thread is about then I don't even know what we're talking about anymore.
  - kd5bjo 7y ago
    I suspect ‘humanrebar is thinking about bookkeeping more than accounting. It’s largely mechanical, often computer-assisted, and the first necessary step to put any of that theoretical knowledge to use in practice.
  - humanrebar 7y ago
    I think there are a lot of things that could be called "Financial Literacy". I am advocating for something immensely practical for normal working class consumers to set themselves up to manage a household and perhaps a small business. That is, emphasize finances (practically, using realistic tools). Covering basics of Finance is probably fine, but only to the extent that they understand the gravity of a 22% compound interest rate. Being able to do complex calculations with that rate is probably less practical than learning some other things, like knowing how buying a piece of property works.