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Do you think you would have benefited from taking a personal finance class?

Asked at Borders, 700 N.H. on September 19, 2007

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Photo of Tara Welch

“Yes, in college or even high school. The sooner you get to know those things, the better. You definitely need to know them before you get your first real job.”

Photo of Andrew Thomas

“Yeah. I don’t think it could ever hurt. You’re always going to be dealing with money, no matter what you do. You always need to know where all your finances meet up and what’s getting lost in between the cracks.”

Photo of Joanie Bauman

“Absolutely, because I’m not a very good money manager. Thank God I have a husband who is. I think it’s definitely a skill students need to have.”

Photo of Victor Haskins

“Actually I already took one. I’m sure I didn’t learn everything, but it certainly got me into thinking about what I need to be doing with my money in the future.”

Comments

The_Original_Bob 6 years, 7 months ago

I always like how when somebody comes on this here OTS board and talks hateful smack on someone else for absolutely no reason and then rightfully gets put in their place. Always good comedy. It always, always, always, ends with the instigator playing the victim card. Boo hoo. Poor Jane.

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Jane 6 years, 7 months ago

Ever? Never ever? Aw, now I am sad. You all sure had fun with me, all on your own. I am not surprised. Saddened, but not surprised. :P

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Godot 6 years, 7 months ago

MKlady, I have listened to Ramsay's talk radio show while traveling, and I agree with you. He is completely on the mark, extremely pragmatic.

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Gootsie 6 years, 7 months ago

"Gootsie-I now understand your strong disdain for government employees (ku employees qualify), since you used to be one yourself! You should know how people (esp the fata$$ed bitches who sit at a desk all day) screw off on campus when they are being paid to work."

Jane, NEVER think you know what I feel and NEVER think you need to put it into words for me. I do not want someone of your negativity to EVER represent me.

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Sarah Rahija 6 years, 7 months ago

Personal finance ... I hated that phrase. We took a class called Financial Peace University, by Dave Ramsey, and LOVED it! I hated the word budget and checkbook register, and loved my debit card. However, in the last 6 months we have been using the envelope system, and have paid off a BUNCH of debt, closed a credit card account, and are working our debt snowball on 2/3 of our income before starting FPU. I seriously cannot remember my debit card pin number, and need to reset it at the bank, because I have not used it - that is almost unfathomable to me! I cannot praise this guy and his program (which are not "new ideas", just putting them into a real context) enough! We also learned about insurance, investing, saving, and real estate, negotiating techniques, and things I would not have expected from a "course".

I don't mean to sound like an infomercial, but I am so excited for how this is helping us and others get out of debt, and live within, not beyond our means. They are developing a high school curriculum, that is NOT funded by credit card companies (another surprise to me -- who knew that these companies provided materials just to get their brand recognition in place in the minds of kids?!), teaching teens to budget, and take care of money. I am so thankful that we are teaching our kids this from the early stage (and am excited as I watch others teach their older children a different way of living ... freedom to breathe and not worry about bill collectors, a credit report, car payments, holiday gifts, ... it's a wonderful feeling!

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jonas 6 years, 7 months ago

Oh! I've always found "heh" to be quite effective at that.

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sunflower_sue 6 years, 7 months ago

Sorry jonas. Was trying to imply a short vowel sound.

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Ceallach 6 years, 7 months ago

Harridan!!! I love "word" people. Just got in myself, Py. I like to wait until it's pouring to make my dash for home :)

You just "sense" away there, Jane. Let me know how that works out for you.

I am sincerely sorry that you are full of such bitterness, but I'll reserve my sympathy until I see some inkling (no matter how fleeting) of sanity in one of your posts. You do not seem capable of having a reasonable exchange with anyone today.

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Pywacket 6 years, 7 months ago

Ahhhh.. After marching a few scurvy dogs off the plank at cutlass point, I feel energized. Glad I didn't miss anything too exciting here.

I do like notnowdear's philosophy on cultivating a slightly trashy credit score. Sounds like a perfect incentive to snag not only that red purse, but also maybe a leather jacket and boots, and maybe that new dining room set I've had my eye on.

Poor, confused Jane. My math takes into account Ceal's vastly superior reading and writing speed; I have no doubt she is able to post circles around plodding Jane, and in a fraction of the time.

Whatever tragic events must've befallen Jane to render her the spiteful harridan she is today? Did Mother drop her on her head in a rest-stop dumpster? Did The Husband run off with The Best Friend? Do children make a special point of leaving flaming bags of dog poo on her porch then ringing the bell and running off? Sadly, it's unlikely that anyone really cares.

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Godot 6 years, 7 months ago

It would have helped me to learn about investing earlier on in life.

I learned about budgeting from my parents; it was the "envelope" method. Cash the paycheck and divvy it up into envelopes: one each for house payment, food, gas, insurance, clothing, fun and savings. First, the savings envelope went into the passbook savings account. Then the envelopes were used for their purpose. When one was empty, that was that until the next paycheck. And, no fair taking money from the other envelopes.

It was really hard, at first. It was so tempting to steal from the other envelopes when I ran out in one. And there were more than a few domestic arguments about who took money from what envelope. But, after a few times of doing that, and coming up short at the end of the month, the lesson was learned.

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The_Original_Bob 6 years, 7 months ago

Jane -

Easy tiger. Roooarr!!!

Original ideas are not my game. Dck jokes and pointing out hypocrits/trolls/loathsome idividuals like you is the fun. Your calling out of folks who spell a word or two wrong was rich. Attacking Ceal for, hell, I have no idea was fantastically rich. Try putting milk in your cereal tomorrow.

Selah!

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Foofabs 6 years, 7 months ago

I think jane needs a hug from Ron Paul! Ron Paul for President!!!

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Jane 6 years, 7 months ago

The_Original_ Bob hasn't had an original thought since his baby was born. Really Bob, you used to post intelligent ideas and arguements, what has happened to you?

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RETICENT_IRREVERENT 6 years, 7 months ago

jonas, jonas, jonas,

"Woman is at once apple and serpent" -Heinrich Heine

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Jane 6 years, 7 months ago

Ceal, I sense a sincere thank you coming from you.

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notnowdear 6 years, 7 months ago

Personal Budgeting should be a course offered as an extra credit in high schools.

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notnowdear 6 years, 7 months ago

We are bombarded nearly hourly by ads of a clean-faced college-aged actor who asks us if we know our credit score. It's as if, as the impression of the ad mandates, that you have to have a good credit score, so go out there and borrow!!! Run on someone else's money.

But that is not what I was taught. If you cannot buy something outright, do not buy it. This is what my traditional GOP father taught me.

In the 70's, when wheat was 7 to 8 dollars a bushel (as it is now), many farmers went out and bought brand-new implements, new 4-wheel drive trucks, built new houses. Some of them even drove those fancy tractors to Washington, DC, to protest something, a tractor cade that hit the headlines. A decade or so later, most of them lost their farms to debt. Farm sales became a way of life for farmers. Meanwhile, my dad bought their cast-off tractors. Then 16 years ago, he died, leaving my mother 1.6 million in assets in the black, with absolutely no debt. The farm sale we had rounded that figure out to 2. BUT my father farmed 5 times as much land as most of the other farmers, owning most of it, and renting the rest. His number one rule: Never, ever put farmland up for collateral.

I don't want a good credit score. I want a little trash on my credit so that if identity theft ever hits me, the creditor will ask a whole bunch more questions. And I will gladly explain why that trash is still there.

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jonas 6 years, 7 months ago

Sue, you should use two "e"s when writing "hee." Writing "he he he" make you seem like you blame the current problem on men.

Unless that was your intention, then by all means carry on.

Oh yeah, pirates! "Ore wa Rufi, kaizofuoo ni naritai otoko da!" http://en.wikipedia.org/wiki/One_piece

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Ceallach 6 years, 7 months ago

sue, I know it's hard to believe. If you hear about the university closing down unexpectedly one day you'll know I couldn't find parking and without me nothing could be accomplished!

Jane has me so upset I'm leaving early today.

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sunflower_sue 6 years, 7 months ago

I'm thinking "Jane" is actually "Nick Danger." Too similar of wording. (And there can't be two people that bitter!)

Ceal, I can't believe you don't have a designated parking spot. That is crazy! "Yes, we want you to show up for work, but good luck finding a place to park. he he he."

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Ceallach 6 years, 7 months ago

Can't mean me. I don't sit at a desk all day!! I'm often found standing by the water cooler or gazing out the window :P Apparently, "Jane" can't sit at a desk all day, therefore does not have computer access all day. I'm disappointed that he/she hasn't noted how many of my posts were after work hours, on weekends, or on lunch and/or morning and afternoon breaks. Since I don't run outside to smoke a cancer stick beside the trash dumpster I have more time to contribute to the OTS posters' attempt to solve the weightier issues of the world.

btw, "Jane," you don't have to sit at a desk to have a fata$$, but then again, you probably already know that.

I'm thinking that if Jane doesn't behave he/she will have to be keel-hauled. Arrgghh!!

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sgtwolverine 6 years, 7 months ago

University parking is terrible anywhere. The unpleasant parking permit fee was one of the things I really hated about working at Michigan.

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The_Original_Bob 6 years, 7 months ago

Well, I got my answer. Jane is a loathsome person who unfortunately eats piss soaked cheerios each morning. What a wonderful life to lead. Envious, I am.

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Jane 6 years, 7 months ago

Oh Ouch. Py writes, "As Bob notes, she spends at least as much work time reading/posting here as Ceal does." A simple click will show that Jane and Ceal joined this wonderful community in 2004, August and October, respectively. Ceal has 2359 posts, Jane 151. I guess py must use fuzzy math to come to the conclusion that I spend at least as much time as Ceal posting online.

Gootsie-I now understand your strong disdain for government employees (ku employees qualify), since you used to be one yourself! You should know how people (esp the fata$$ed bitches who sit at a desk all day) screw off on campus when they are being paid to work.

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Ceallach 6 years, 7 months ago

Goots, I know what you mean. Not only did I have to leave for lunch (never wise where parking is concerned) but I left late!!! So I've been circling the building then cruising Memorial Drive, desperately seeking a parking spot. You literally have to wait until someone leaves. All this after paying outrageous parking permit fees.

sue, sounds like your job is pretty secure. Hang on to that boss, he is definitely a keeper :)

I don't think Jane actually knows me, but from the first paragraph of Py's 11:27 post it seems likely that she does :):)

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Gootsie 6 years, 7 months ago

Ceal, I'm a former Strongie, and let me tell you. Any breaks you can get after trying to park, are well deserved.

Plain Jane, back off. Don't mess with our Ceal gal. Pick on someone your own size (like the little guy from Different Strokes).

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storm 6 years, 7 months ago

A personal finance class is fine as long as it's not sponsored by a bank or other vested interest.

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sunflower_sue 6 years, 7 months ago

Ceal, as my own boss, I'm firing myself for spending too much time on OTS. (I guess, technically, I do have a boss but since I've repeatedly tried to be fired and that's not working, I guess I'll just keep on doing what I darn well please.)

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sgtwolverine 6 years, 7 months ago

Py, as my own boss, I'm firing you for spending too much time on OTS.

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mom_of_three 6 years, 7 months ago

The personal finance class is open to students of any major, according to the article. This is the first year, so it may be in more demand after the article...

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Ceallach 6 years, 7 months ago

Py, as the chief administrative officer, how would you handle such a complaint?

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herbalife4life1 6 years, 7 months ago

I DID benefit from a personal finance class....but I really benefited from macro AND microeconomics. It helped to find out how the economy was in most ways predictable and therefore I could profit off of it. Its called buying options....it really works!

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Pywacket 6 years, 7 months ago

Maybe she's a student hourly in Ceal's office and jealous of Ceal's goddesslike stature.

Good point, Jonas. It is also amusing that someone who archly suggests that others need spelling lessons would spell "frivolous" "frivilous" and "renovation" "rennovation" and would write, "In the chancellor's defense, his office only seen new paint..." Those gems appear in a long rant she made on a KU renovation topic, in which (among other things) she makes snarky comments about "the provost." Presumably the same provost to whom she plans to report Ceal. As Bob notes, she spends at least as much work time reading/posting here as Ceal does.

I've got to stop reading--fascinatingly revolting as it is... A few posts later, she gets very nasty and mean with someone else about spelling, despite the fact that her own posts are littered with misspellings ("reguardless" is another good one). I guess hers can be excused as "typos" but everyone else's are due to the fact that they are ignorant. She also takes gratuitous swipes at people who appear too heavy for her liking (an OTS responder on one post and some children suffering from PKU on another). Class act.

I'd better go, before she decides to report me to my boss. Oh, wait---that would be ME. Heh.. maybe her head will explode.

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Azure_Attitude 6 years, 7 months ago

Ah-hem, that would be "BILGE" rat. Seeing as we have picky people on the board today . . .

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Ceallach 6 years, 7 months ago

I really do think she was joking, (I don't work for Himself directly :) Working up here one can develop a somewhat skewed sense of humor. Ironically enough, for several weeks I've barely had time to read all y'all's posts let alone add many of my own :{

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Azure_Attitude 6 years, 7 months ago

Oh, ho!! A blige rat's a rearin' 'er ugly head. Jane needs to wark the plank!!

Seriously, Jane, get over yourself. And, please, get back to your own business or don't be such a bore.

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Azure_Attitude 6 years, 7 months ago

I be thinkin' it be mighty good to have learning 'bout countin' booty. An'a gittin' more booty. Can't be havin' too much gold and dabloons

Arrrghhh . . . it better be a good learnin' to or the bilge rat'll be warkin' da plank! It sounds pleasin' on teh bill posted at the dock: "A Makin' yer Pilage Work for You."

(lots of Arrrggh going on here today)

http://homepage.mac.com/crabola/PirateGlossary/Menu22.html

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jonas 6 years, 7 months ago

O-Bob: Running over her comment history just briefly, I would go with the latter option. After a few pages of grouchiness and anger, I did find something that I could agree with her spirit on: that we both despise Fred Phelps. But, again, the operative word seems to be despise. I suppose if someone dislikes everything, eventually you'll find something that the two of you have in common.

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The_Original_Bob 6 years, 7 months ago

Py -

The best part is I clicked her name and she has 6 or 7 posts this morning alone and yet she is getting on Ceal's one post. I love me some hypocrisy on a Wednesday!

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Pywacket 6 years, 7 months ago

T_O_B~ My thoughts exactly. In fact, I was forced (against my usually angelic nature, har har) to smack her down in another thread (about the pedestrian accident on 23rd St).

Jane, you're a festering pain. Go seek the counseling you need. Once you resolve your inner demons, perhaps you will be ready for social interaction.

Ceal~ Keep on keepin' on. ;-) I have worked in Strong Hall, and I'm sure any OTs breaks you take are well deserved.

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Pywacket 6 years, 7 months ago

Ceal~ Regarding the red purse dilemma: I could perhaps resist the temptation, unless it was a Coach bag. I can walk right by Dooney & Bourke (highly overrated, IMO), DK, or even Liz, but for some reason, Coach draws me like a magnet.

I think such a class (personal finance) should be mandatory in high school. It should include a section on awareness of, and resistance to, all the sleazy credit card offers they will be facing as college students. Knowledge is power.

As far as Stew's suggestion that parents should teach kids good money management--that would be great if the parents practiced such management themselves. My mom could teach seminars in how to p*** money away most efficiently. Come to think of it, even if parents are good money managers themselves, and have taught the kids the basics (save some of your allowance or earnings, etc..), a well-designed class would still offer ideas and tips that might prove invaluable.

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The_Original_Bob 6 years, 7 months ago

Jane is quite the little bitchy snitch, eh? Gawd, I adore people like her. It makes work so much fun! You wonder if someones pisses in their cheerios every morning or if they are just generally loathsome.

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Ceallach 6 years, 7 months ago

Soooo, Jane, is part of your job description proofing the LJW comment boards?

btw, the Provost doesn't know me . . except from hearing that there is a woman in Strong Hall who works soooo hard that she occasionally needs to take a 3 or 4 minute break to type a few sentences. Although, "exposing" me to him might be in my favor :):)

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RETICENT_IRREVERENT 6 years, 7 months ago

Good advise, Stew. But it is not really "as simple as realizing all one NEEDS is food, clothing, and shelter." Say you just happen to be passing the "bird", where you happen to see a lovely stripper and she just happens to have a g-string waiting for dollars and even a handy-dandy tramp stamp on the lower back!!! Well, you can see the dilemma, right? Also, say you can't boycott the bird because . . well, it's there... Walking on by isn't all that simple :):

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countrygirl 6 years, 7 months ago

JCCC has a really good personal finance class taught by Craig Hatch. He actually works for a living and teaches in the evenings. Brings real world experience into the classroom--great instructor.

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Jane 6 years, 7 months ago

ceal-please go back to work, the provost wouldn't like you posting all day, every day, and I would hate to have to expose you to him.

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Ceallach 6 years, 7 months ago

Good advise, Stew. But it is not really "as simple as realizing all one NEEDS is food, clothing, and shelter." Say you just happen to be in J.C. Penneys, where you happen to see a lovely red leather purse, and it just happens to have silver brads, buckles and pulls, and even a handy-dandy cellphone pocket on the back!!!! Well, you can see the dilemma, right? Also, say you can't boycott the store because . . well, because you have to make a payment on items you previously purchased outside the budget. Walking on by isn't all that simple :):)

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Jane 6 years, 7 months ago

From most of the posts on this site, I'd say a lesson in spelling is in order.

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Bassetlover 6 years, 7 months ago

The greatest lesson I learned years ago was from my dad when he was lamenting the free-spending lifestyle of my little sister. He said "She has champagne taste on a beer pocketbook." That really stuck with me and has been the compass of my spending habits ever since then.

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Fatty_McButterpants 6 years, 7 months ago

Actually, I contacted KU about providing a class to students who are not business or finance majors that would cover things like: insurance, personal finances, mortgages, loans, etc. so the graduates would be well-rounded and able to function literately in today's society. Afterall, the function of a liberal arts degree (yes, I know not everyone is a liberal arts major) is to produce a well-rounded education. Besides the fact that most parents don't really address these issues with their children. If they did we wouldn't have record numbers of college students getting into credit fiascos.

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sunflower_sue 6 years, 7 months ago

I suppose I have taken some classes (not in the traditional sense). Have I benefited? Time will tell.

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The_Original_Bob 6 years, 7 months ago

I was always taught to bury my booty on remote islands.

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RETICENT_IRREVERENT 6 years, 7 months ago

If it would keep me from being tasered while doggedly asking a Senator pointed questions, then sure why not?

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canyon_wren 6 years, 7 months ago

Not having taken one, I really don't know what they teach, so couldn't judge whether I would have benefited. I love keeping track of my finances, but don't know the first thing about investments, etc. However, it is not like I have big chunks of money to invest in anything! I definitely think a course in money management should be required for all high school students, especially if it emphasizes the pitfalls of using credit.

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Kat Christian 6 years, 7 months ago

Well since they've dumbed down high schools they don't have business courses anymore like they use to. When I was in high school many years ago we had a choice of taking - General Math, Commerical Arithmatic or Academic math which included algebra.... or business math which included personal finances, check book writing, budgeting, general accounting, etc. Schools have generalized math geared to scientific and technical arena not realizing everyday people just need to know how to take financial care of themselves. Not look what has happened. No surprise to me. I may not be rich but I do know how to balance a budget, checkbook and keep out of deep debt and I don't use credit cards.

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trinity 6 years, 7 months ago

argh! umm yeah i took some goofy goofy seminar in around '94 about money management; about a year later i filed a bankruptcy. i'm pretty stubborn.

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Stew 6 years, 7 months ago

This is something parents should teach their kids. Money is not that diffult to manage if one can control urges and spend wisely. It is really as simple as realizing all one NEEDS is food, clothing, and shelter. And then planning for the future to be able to maintain those needs (i.e., saving for a rainy day [a very foriegn phrase in today's society]). As far as WANTS (which is anything beyond needs), again, saving, saving makes one plan.

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Foofabs 6 years, 7 months ago

By voting Ron Paul for President you would be help yourself financially. So Vote Ron Paul for President in '08!!

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sharron5rs 6 years, 7 months ago

Yes!! May if started in grade school it would have sunk in and made my life alot easier.

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Ceallach 6 years, 7 months ago

Ahoy mates! Been there, done that. I now need a class teaching me how to keep the shopping gene under control. I might be able to do so if I thought the punishment was walking the plank!

Its talk like a pirate day!!! All y'all have fun.

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blue73harley 6 years, 7 months ago

No, but my wife sure would. Don't get me started...

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sgtwolverine 6 years, 7 months ago

Definitely not. As it is, I know I am no good with money; if I took a personal finance class, then I would know exactly how I am no good with money, and that would be depressing. I prefer the vague knowledge.

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