Why they don't teach financial education in school. Its because we need poor people.

The current labor shortages are proving something, we need lower to middle class workers. We need people working in the restaurants, driving the trash trucks, 18 wheelers, warehouse workers picking and loading merchandise. We need people in the Super Market stocking shelves. We need dock workers and people in retail outlets. If basic finance was taught in schools and the majority of people was able to understand and take advantage of that knowledge then wages would rise in middle income america or people wouldnt do those jobs.

Look at the labor shortages now. The pandemic gave alot of people the time to think long and hard about their life choices, employment included. Now consider that some of the labor force either passed away from Covid, retired, used their stimulus and unemployment to change their station in life there are a lot of jobs left unfilled. Now combine that with that the wages for those jobs are crap, many are saying "hell no". I personally know a few long haul truck drivers that are saying they are not coming back because of wages and benefits.

If people didn't need to work, they wont or if they do work they wont accept BS wages. That is what is happening now, combined with an unskilled spoiled generation of 20 somethings that are still sucking on their moms t!t. Wages need to meet in the middle with profits. The gulf has been growing larger and larger the last 30 years.

Bottom line though, as Judge Smails said in Caddy Shack "The World needs ditch diggers too". Without a lower, uneducated class in the populace the wheels of society would just stop. If everyone was a successful self employed business owner then who would stock the shelves at the super market, man the gas stations or work at Starbucks? If you say today's youth, I just laugh.

Yes they do need poor people as if wasn't for poor people no-one would be rich.

a reply to: AssiduousSpook

It's not so much that "we need poor people," as they want indentured slaves.

My wife and I decided from the start that we'd not take on debt. In our nearly 40 years of adult life together we've only bought two cars on credit and paid them off both early. We've almost never carried credit card debt save once for an inevitable situation.

We are not wealthy people but considering that we have no debt and most Americans actually have a negative net worth when you figure in what they owe, we're better off than most of our peers.

My son is, best we can discern, up to his neck in credit card debt. He's won't tell me how much, but I suspect that he's barely covering interest payments. Once, long ago, he told me that he wished he listened to me when I told him, right out of high school, to not take those credit card offers he was being inundated with, but now he says that "debt is the American way." They got to him and all my teaching came to nought. It breaks my heart.

This is what they want. It's what they've gotten because people (my son included) are just stupid.

a reply to: AssiduousSpook

Why isn't it their parent's responsibility to teach them about financial responsibility?

Why should the school system be expected to teach about Money, but not about Sex?

Bad judgment on either topic can ruin a life.

originally posted by: incoserv
a reply to: AssiduousSpook

My son is, best we can discern, up to his neck in credit card debt. He's won't tell me how much, but I suspect that he's barely covering interest payments. Once, long ago, he told me that he wished he listened to me when I told him, right out of high school, to not take those credit card offers he was being inundated with, but now he says that "debt is the American way." They got to him and all my teaching came to nought. It breaks my heart.

This is what they want. It's what they've gotten because people (my son included) are just stupid.

Nothing wrong with having credit cards. I have 7 with over 50k in credit lines. I owe less then 200 each month after all the bills are paid, if any at all. I enjoy having the option to borrow. Its about self discipline and seeing a larger picture.

We need people to pick up the trash, work at the mcdonalds, stock the shelves, unload the containers off ships and drive the products to the distribution centers. Do you think people would do that if they didnt need to? If people were empowered to rise above who would do the grunt work?

Some people enjoy grunt work.

I know I do.

They just don’t enjoy being paid peanuts to do it.

And treated like the dirt they dig, or trash they haul.

Give me a world where the tables are reversed and managers get paid less then the workers, but do nothing besides manage their people. Take away the big money but give them the control.

Easy job for easy money.

Same as politicians. Give them the dole all year round for their political work and a public housing house to live in.

Make them hold down a real job as well.

a reply to: AssiduousSpook

a reply to: AssiduousSpook

In my job, we are limiting production due shortage of workers.

I think it'll get worse. Young new workers have zero experience and they are nomadic. I know guys changing job 2 or 3 times in a year.

I just want to retire debt free and see the rise of the next economy based on internet. Isn't it here already ?

Where are the robots stealing our poor class jobs ? Hurry up please.

People generally aren't stuck in low paying jobs. Most work their way up and into middle class. People chnage income brackets throughout their lives.

There are some who toil at the bottom but that is usually more of personal issues more than anything.

a reply to: Edumakated

In these parts, the lower wage jobs are working their way up to the middle class, while the middle class wages stagnate.

In two years I've seen starting pay go from 7-12 an hour up to 20-23. Meanwhile people who started careers five years ago are often not making much more than starting pay for a no experience job.

As expected, the cost of goods and services are going up to meet the cost of employing people, so the effective wage of the middle class is racing to the bottom.

originally posted by: Mantiss2021
a reply to: AssiduousSpook

Why isn't it their parent's responsibility to teach them about financial responsibility?

Why should the school system be expected to teach about Money, but not about Sex?

Bad judgment on either topic can ruin a life.

Because it's mostly just math. And because if they get into debt and declare bankruptcy or commit a crime then it's the state that has to pick up the pieces.

Think of this as... Preventative measures.

George Carlin broke it down the best.......

Rich people are there to do none of the work, make all the money, and pay none of the taxes.

The middle class is there to do all the work and pay all the taxes.

The poor folks are there to scare the hell out of the middle class and keep them working.

Fairly simple system, happens to work.

It is kind of an arrogant question which implies that they successfully teach anything in school.
They taught math in school. How many learned that.
They taught History. So why do we repeat our historic mistakes.
They taught reading but no one will do it.

Seriously, does anyone really believe that if they taught you the basic of personal finance that anyone would remember it past Prom night?

People expect the government to do everything for them to include raising their kids.

At the same time I will say that I have probably worked with all my daughters some type of homework or assignment about personal or business finances.

They might not had a financial Ed class but the topic is covered to a degree throughout their school years.

originally posted by: AssiduousSpook
We need people working in the restaurants, driving the trash trucks, 18 wheelers, warehouse workers picking and loading merchandise. We need people in the Super Market stocking shelves.

Why would schools teach any of that? For the most part it's pretty intuitive: take thing out of box and put on shelf, pick up food and bring to table, take thing off shelf and put on conveyor belt.

There definitely needs to be classes taught on personal finance but life in general. More of a practical life skills type of class.

Some people will get it. Some won't. I hate YouTube but there are some good content creators providing good financial and life advice.

The problem these days is mistakes can set you back substantially. It could take you decades to recover.

Too many people don't understand how today's actions can hurt you tomorrow. Life is a series of chess moves. It takes planning and strategy.

originally posted by: puzzled2
Yes they do need poor people as if wasn't for poor people no-one would be rich.

If no one had any money...

we would all be rich.

They're real good at teaching kids how to get student loans and massive debt however 🤣🤣

a reply to: scratcher

You can't be rich if no one is poor, you'll just be.

The concept of wealth is based on having something of benefit that others don't.
Every group has the concept with or with out money.

originally posted by: scratcher

originally posted by: puzzled2
Yes they do need poor people as if wasn't for poor people no-one would be rich.

If no one had any money...

we would all be rich.

Keep telling yourself that and then it will be "he has the biggest stick" has all the "riches". Human greed is normal. Just like hunger. To practice selflessness is a worthy goal. Many cannot do that. There will always be something that represents "barter". Either coin, paper or ecoins, something that essentially means money for a transfer of goods or services is essential to life on Earth as Humans.