Why Schools Don't Teach Financial Literacy - And How to Educate Yourself

The Financial Education Gap

Did you know 87% of adults wish they learned personal finance in school (NFEC)? Yet most graduate knowing more about calculus than credit scores. This glaring gap leaves millions struggling with debt, living paycheck-to-paycheck, and missing wealth-building opportunities.  

As someone who overcame financial illiteracy, I'll reveal:  

- Why schools skip money lessons  

- The 4 financial pillars they should teach  

- How to self-educate for free  

Why Schools Don't Teach Money Skills

1. Outdated Education Model

The school system was designed for factory workers, not investors. It emphasizes:  

- Memorization over critical thinking  

- Job preparation over wealth creation  

- Standardized tests over practical life skills  

2. No Standardized Curriculum

Only 21 U.S. states require financial education (Council for Economic Education). Without federal mandates, most schools prioritize traditional subjects.  

3. Banks Profit From Ignorance

Financial institutions earn $120 billion annually from overdraft fees and credit card interest (CNN). An educated public would cost them billions.  

The 4 Financial Pillars Schools Should Teach

1. Earn More Than You Spend*

  - 50/30/20 Budget Rule:  

  - 50% needs (rent, groceries)  

  - 30% wants (entertainment)  

  - 20% savings/debt repayment  

- Tool: Apps like Mint or YNAB  

2. Make Money Work For You

- Start Investing Early: $50/month in index funds (e.g., $VOO) can grow to $500,000+  

- Avoid Liabilities: Cars and gadgets lose value; assets (stocks, real estate) grow wealth  

3. Protect Your Wealth

- Insurance: Term life costs less than Netflix ($20/month)  

- Estate Planning: Simple wills prevent family conflicts  

4. Give Strategically

- Tax-deductible donations  

- Teaching kids generosity builds values  

How to Self-Educate (Free Resources)

1. Books:  

   - Rich Dad Poor Dad (mindset)  

   - The Simple Path to Wealth (investing)  

2. YouTube Channels:  

   - Graham Stephan (real estate)  

   - The Plain Bagel (stock market)  

3. Courses:  

   - Udemy's "Personal Finance 101" ($20)  

   - Khan Academy (free)  

Take Control of Your Financial Education

Schools won't change overnight, but you can start today. Pick one pillar to master this month—your future self will thank you.  

Your Turn: What money lesson do you wish you learned in school? Share below!