Oh that's crazy talk.
They can't even do a budget, let alone taxes. Or calculate how much they'll pay in taxes.
Compound interest? Heck no.
Can't *ever* teach 'em that. They're about to embark on at least $40K in Student Loan debt to become educated enough to qualify for their $25K/year first job. And every teacher in the system went that route. They think that's "normal".
The suicide rate would skyrocket if they figured out how long they're going to be broke. Really broke.
"Teacher, these numbers say I'll be a debt-slave until I'm 35... If I even find a job!"
"Yes dear, hush now and stop applying that math we taught you to your real earning potential in your 20s. You'll upset your stomach before the standardized test prep this afternoon."
I actually agree with you -- but it'll never happen. Reality is not exactly a strong-suit of the public school system.
I had an economics teacher once (economics was an *elective* even 20 years ago - WTF?!) who assigned the class a project to do their real budget for their first year in college.
I did a realistic one, for me, all the way down to livin' the "Macaroni and Cheese" lifestyle that didn't include any student loan money.
I was told it "wasn't realistic" and even had concern voiced, "You don't actually eat like this now do you?" an obvious attempt to see whether or not my family/home life was "abusive". Prick.
I said no, but it'd be okay to get started with -- and made my case for it's realism -- and the teacher still couldn't believe it.
I suggested that maybe joining the military would change it significantly if I decided to go that route, and he relented. I got a "B". ****ed me off.
In the real world, I lived on only a slightly better budget for three years. Better because I held down three part-time jobs instead of the two I assumed in the budget.
And with a little help from family, via a free room for two years at my grandfolk's place, even managed to get my Private ticket. Without that kindness, and a CFI who let me hang out at his house talk airplanes, and mooch off his aviation bookshelf, I wouldn't be a pilot today. I think about half my ground-school was done over his kitchen table for free, even though I offered to pay. I ended up paying him back in a completely unexpected way when he was diagnosed with cancer and the visits were more to keep his mind off the chemotherapy effects than I really knew at the time.
The third year I had a *lovely* little one-bedroom apartment that was perfect if you ignored the odd cockroach scampering for cover when you flipped the lights on in the kitchen.
Ended up deciding not to finish the degree when opportunity finally knocked. It knocked because I busted butt and made sure I did a better job than I was paid for. One company needed cheap techs and four of us telephone operators fit the bill.
Overtime? Heck yes! Run cabling on a Saturday to build out the new call center? Absolutely! Quit one of my other part-time jobs to go full-time with full bennies? Hell yes. (I kept the weekend gas station job -- that was the flying money.)
I had only one semester on student loans. Shouldn't have even done that.
But I *never* forgot how that holier-than-thou high-school teacher prick said it couldn't be done that way...
Turned out, it was a *great* education. But not the one he wanted me to learn.
I beat his income level and bennies -- other than his monster old-school (literally!) pension plan -- by the time I was 23.
My mistake was the compound interest thing. Got married, had a "real" job, bought too many toys. Paid on them for a decade. Mainly trucks. Stupid, in hindsight. But survivable.
First condo purchase at 25. Sold at a profit and current house purchased at 28. Only mistake there is that it's too big for us. We're talking about downsizing when the dog and cat pass on. Our first mortgage terms on the condo made the stuff people whine about today for interest rates they want "modified", look tame.
In November of 2001 I went through a layoff. No job for a year. We lived on one salary and got by, never missed a mortgage payment. We had to painfully steal some money from a retirement account complete with penalties. But we got through it. More lessons learned. No bankruptcy. Didn't even use Unemployment money (perhaps a big fiscal mistake but it's nice to say now when folks ask my opinions on government - I put my money where my mouth is.)
Dumbest fiscal move ever? Airplane co-ownership at 36. Best decision ever for my heart, though.
Changes the retirement plan, but the Mrs. was so cool with it, she conspired with others to push me over the worry-wart edge. I look over the spreadsheets from time to time and see that my worst fears about unanticipated maintenance came about halfway true, and I'm still paying exactly what a rental would have cost... with an ever-growing engine fund and more access to the plane and people whom I both like and whom I trust flying it.)
There's always the cockroach laden one-room somewhere to start over from if we totally screw it up, I figure.
My biggest worry these days is watching MBA's screw up good businesses that I work for. Man, some of them are greedy stupid bastards. They haven't yet taken over the current employer. We don't have everything we want in the IT department, but the stuff we have is making money. I just watch and pounce on stuff that'll make things run better for as little cost as possible.
One machine finally hit it's wall today on load. An upgraded used but serviceable server will be racked to replace it tomorrow and will be in service by next week. That's cutting it just a shave too close for my tastes so we'll see if they get the upgrade/capacity planning together a little better early next year.