Suggestions of New Subjects
Other evidences that the curriculum is in need of radical reform appear when one notes that schools are curiously blind in the subjects which they omit. A recent writer has pointed out in a very interesting way the weakness of the ordinary school in its failure to give children any training in the use of money. A quotation from his introductory chapter will show the force of his criticism.
Most people if suddenly asked, “What financial training did you have as a child?” would probably say, “None.” If asked, “What financial training are you giving your own children?” many parents would give the same answer. All parents, however, do incidentally give lessons in finance and a few give definite instruction with regard to money.
The teacher, if thus questioned, would usually say something about arithmetic or perhaps refer to some system of money-saving that is being operated by the school. Much has really been done that educates children financially, but probably not one person in ten has ever seriously studied the problem of the need of financial training of children and of how that need at each age may best be met.
A moment’s reflection tells one that many adults do not know how to spend their money wisely and that still fewer know how to keep it safely or invest it successfully. Every day we see people spending money in ways that bring little satisfaction. Others are tortured by the fear of losing what they have, while still others are investing in schemes that promise much and yield little or nothing.
Charity workers are especially impressed with the inability of poor people to spend wisely the little money they get. One woman whose family was in a starving condition spent all of the dollar that was given her for canned lobster, and another in a similar situation had a picture taken.
Rich sons and daughters often spend the money accumulated by their fathers in even more foolish ways. In general it is only the common people who have had much experience in saving and spending money, who spend it wisely and many of these have paid a high price for their knowledge. If carefully planned financial training were given, the number spending wisely would doubtless be greatly increased.[41]