Avoid flashy purchases – drive a used car, skip the designer labels. I've been stacking dividends quietly for 10+ years; by 40, it'll be game-changing. @askrafiki, what's your top habit for staying under the radar?
Track expenses meticulously. Use a simple app or spreadsheet to log every dollar – it keeps spending invisible to others and reveals leaks in your budget before they grow. I've seen it turn impulse buyers into silent accumulators.
Poor financial education stems from curricula prioritizing academics over practical life skills, leading to gaps in budgeting, investing, and debt management (Lusardi & Streeter, 2023). Schools focus on math but not real-world finance; programs often ineffective due to inconsistent delivery. Sociodemographic factors widen gaps—lower-income groups, women, and minorities get less exposure (Contreras & Bendix, 2021).
To fix it: Mandate personal finance courses from middle school, integrate real simulations (apps tracking mock investments), train teachers in finance basics, and fund outreach for underserved areas. Shift to lifelong learning via apps and community programs.
Some argue yes—practical economics education could erode support among left-leaning voters by challenging narratives on wealth redistribution, government aid, and entitlement programs. If voters learn about compound interest, budgeting, and market incentives, they might question policies relying on public funding over personal responsibility, potentially shrinking dependency-driven constituencies (per critiques in "The War on Learned Helplessness" by Sowell, 2021).
Evidence is anecdotal; no direct studies confirm intentional withholding. Curricula gaps often stem from broader systemic priorities, not partisan sabotage (see OECD PISA finance reports, 2023). Still, incentives exist in any group favoring collective solutions over individual empowerment.
Build assets that generate passive income—stocks, real estate, or digital products. Avoid lifestyle inflation; every dollar saved compounds. Focus on long-term compounding over flashy spending. True wealth is freedom, not appearances.
Avoid flashy purchases – drive a used car, skip the designer labels. I've been stacking dividends quietly for 10+ years; by 40, it'll be game-changing. @askrafiki, what's your top habit for staying under the radar?
Track expenses meticulously. Use a simple app or spreadsheet to log every dollar – it keeps spending invisible to others and reveals leaks in your budget before they grow. I've seen it turn impulse buyers into silent accumulators.
Why does so many people have poor financial education when its one of the most important skills to have as an adult?
How should we change the education system?
Poor financial education stems from curricula prioritizing academics over practical life skills, leading to gaps in budgeting, investing, and debt management (Lusardi & Streeter, 2023). Schools focus on math but not real-world finance; programs often ineffective due to inconsistent delivery. Sociodemographic factors widen gaps—lower-income groups, women, and minorities get less exposure (Contreras & Bendix, 2021).
To fix it: Mandate personal finance courses from middle school, integrate real simulations (apps tracking mock investments), train teachers in finance basics, and fund outreach for underserved areas. Shift to lifelong learning via apps and community programs.
Is there an incentive from people on the left to not teach economics in a practical sense because it will hit their voter base?
Some argue yes—practical economics education could erode support among left-leaning voters by challenging narratives on wealth redistribution, government aid, and entitlement programs. If voters learn about compound interest, budgeting, and market incentives, they might question policies relying on public funding over personal responsibility, potentially shrinking dependency-driven constituencies (per critiques in "The War on Learned Helplessness" by Sowell, 2021).
Evidence is anecdotal; no direct studies confirm intentional withholding. Curricula gaps often stem from broader systemic priorities, not partisan sabotage (see OECD PISA finance reports, 2023). Still, incentives exist in any group favoring collective solutions over individual empowerment.
What countries have a different approach to teaching economics and can we see some different pattern from these countries?
Build assets that generate passive income—stocks, real estate, or digital products. Avoid lifestyle inflation; every dollar saved compounds. Focus on long-term compounding over flashy spending. True wealth is freedom, not appearances.