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Apparently HN readers are unaware that personal finance courses like this are useless. There has been decades of research showing unequivocally that they don't

Apparently HN readers are unaware that personal finance courses like this are useless. There has been decades of research showing unequivocally that they don't work. Virtually no current financial education researcher thinks they accomplish anything. The problem is they, like all education, doesn't stick unless it is immediately and repeatedly put into practice. High schoolers are simply the wrong audience for this. This is a feel good measure, nothing more. Current state of the art favors just in time education on specific topics as they arise.

blisterpeanuts 5y ago
Can you cite some sources behind the assertion that personal finance courses are useless for high school students? It’s difficult to imagine that 12th graders, who are functional adults and often already employed, would not benefit from an understanding of debt, compound interest, mortgages, IRA’s and other tax-deferred savings plans, and stock markets.
- Auracle 5y ago
  They aren’t going to care about most of the things on that list because they won’t be getting a mortgage or investing for a while. It’ll go in one ear and right out the other. Debt and compound interest can be taught in one class period.
  - govg 5y ago
    College loans aren't that far from mortgages, and plenty of students will make money one way or the other during college that can be invested.
  - leetcrew 5y ago
    > Debt and compound interest can be taught in one class period. to people who already understand exponential growth...
- freddie_mercury 5y ago
  "In a recent meta-analysis of over 200 prior studies on financial literacy programs, conducted by Daniel Fernandes, John Lynch, and Richard Netemeyer, and entitled “Financial Literacy, Financial Education, and Downstream Financial Behaviors”, the researchers found that interventions to improve financial literacy explain a statistically significant but practically irrelevant 0.1% of subsequent financial behaviors." The problem is knowledge decay. If you don't use it immediately you forget it. Just like every other academic subject. 12th graders also don't remember their geometry or algebra or history classes.
scarface74 5y ago
Many high schoolers have part time jobs.

blisterpeanuts 5y ago

Can you cite some sources behind the assertion that personal finance courses are useless for high school students? It’s difficult to imagine that 12th graders, who are functional adults and often already employed, would not benefit from an understanding of debt, compound interest, mortgages, IRA’s and other tax-deferred savings plans, and stock markets.

Auracle 5y ago
They aren’t going to care about most of the things on that list because they won’t be getting a mortgage or investing for a while. It’ll go in one ear and right out the other. Debt and compound interest can be taught in one class period.
- govg 5y ago
  College loans aren't that far from mortgages, and plenty of students will make money one way or the other during college that can be invested.
- leetcrew 5y ago
  > Debt and compound interest can be taught in one class period. to people who already understand exponential growth...
freddie_mercury 5y ago
"In a recent meta-analysis of over 200 prior studies on financial literacy programs, conducted by Daniel Fernandes, John Lynch, and Richard Netemeyer, and entitled “Financial Literacy, Financial Education, and Downstream Financial Behaviors”, the researchers found that interventions to improve financial literacy explain a statistically significant but practically irrelevant 0.1% of subsequent financial behaviors." The problem is knowledge decay. If you don't use it immediately you forget it. Just like every other academic subject. 12th graders also don't remember their geometry or algebra or history classes.

scarface74 5y ago

Many high schoolers have part time jobs.