Personal finance involves the proper management of money and other forms of wealth. It involves understanding how daily spending affects your accounts, the use of credit cards, and how interest rates can make or break your portfolio. Personal Finance is a course designed to inform students of how individual choices directly influence career goals and future earning potential.
Students learn about economics and financial planning, goods and services, and producers and consumers. A high school personal finance class can help them learn about the importance of financial responsibility and managing their money wisely. In this introductory finance course, students learn the basics of economics and best practices for managing their own finances. SAM is a free program offered by the National Endowment for Financial Education, which advocates programs to promote financial wellness.
As students prepare to enter the real world, it is important that they have the skills and knowledge necessary to make smart financial decisions. Studying these topics in depth can prevent them from making poor financial decisions that can lead to debt and bad spending habits. The five-hour course examines typical mistakes people make in their financial decisions and how to avoid them. Duke University offers a Behavioral Finance course that focuses directly on how to control your biases to make better decisions.
You can find dozens of personal finance books from best-selling authors to learn the fundamentals of managing your money. Mastering your personal finances is about changing your behavior, which can be difficult for some people. Starting with financial planning, students will learn valuable principles on how to budget, useful tools to use when planning, and problem-solving strategies to make informed decisions. But, if you’re the type of person who learns best through guided instruction with the opportunity to put what you learn into practice, a personal finance course may be a better option.