BEKD that's what I'm calling it. In the US we have better than 90% that have a high school diploma and more than a third have a Bachelor's or better, but it seems that about half of American adults don't understand basic economics? I know that in high school here in Alabama we only had one semester of Economics and I have no idea about the other 49 states and our territories, but good grief, one semester is enough. Most of us in 1984 already had somewhat of a basic understanding before we walked into the class for the first time. We are supposed to get more educated as time marches on, not more ignorant. Yet here we are.

Just for the record; I'm one of those guys that have a HS diploma but no college degree and I believe I have a pretty decent grasp of economics. I struggle to understand why so many have no idea.

My 9 yo daughter understands better than the government when it comes to spending money you don’t have

Agreed.

Even Joe Biden couldn't pass a freshman high school intro to econ course.

Because most economic talking points have political views built in.

Household economics should be pretty straight forward (your expenses vs your income ). Without fail I see grown people living paycheck to paycheck taking $5000-$7000 dollar vacations every single year on a credit card . then they don’t have the money pay off when they get back , but rather pay it off over the next 6-8 months with a variable rate 20-26% interest rate. The 1 semester of economics failed them , their parents failed them ,and the banks which loaned them way more than they are able to pay back failed them . If you can’t afford a vacation DO NOT go on one this year . If you can’t afford an 80k dollar truck don’t buy one . If you can’t afford a 400k dollar house don’t build it to start with . They complain about their pay but won’t work over 40 hrs a week ( that’s their personal time. Or my favorite one is “I’m not working more than 1 job.”If your lazy butt isn’t willing to work or have a side hustle to make extra money to support your family and your hobbies you don’t deserve a vacation. Or parents that will work but they don’t make their kids work or help out (they are setting them up to fail even though they think it’s helping them.)

The more educated folks are the ones who understand it the least.

Personal finance needs to be in high school curriculum. I'd teach it for free if I could find folks who want to listen.

There’s definitely not a correlation between education level and common sense.

Duxlayer the problem now is they have been taught that America is a rich country and they can afford it! Spend it all now and America will take care of you and your healthcare when you get old=socialism!

Basic economics is spend less than u make . That applies to fed gov, state gov, any business an your personal income . Very few people follow that policy. If you don t have money don t buy it except maybe a home. That is a investment.

I really don't know how much other people make or spend. It's none of my business.

I do know this. If you can retire, or go work-optional at 50 or so, I figure you've probably done pretty well.

I've taught my kids, save 1/3, spend 1/3 and the government gets the rest. Nowadays the gov is taking close to half. Anyway, sometimes as you mature, that's hard to do, but it should always be a goal.

It’s a learned response to the economic environment that you grow up in. No different than any other leaned skill.
Old people who grew up poor and worked hard didn’t spend much money if any. Young middle class kids with no skin in the game grow up wondering why they can’t have this or that. Rich kids grow up expecting most things. “Very few people change from how they were raised”.
My dad grew up living below his means because they were just coming out of the depression. My dad doesn’t spend $ for squat. I grew up with him talking about money and politics all the time.
I 1000% agree that basic finance should be taught in Hs. I mean how is that not a required life skill?

What shocks me is that we've got 80+ million plus who are stupid enough to vote for Joe Biden. There's 80 million idiots you can put into the don't know about economics bucket right outa the gate.


It's shocking to me. Americans are a stupid bunch of people in General. I hate to say that but it's true. Watch Jesse Waters if you don't believe me.

Exactly. It is easier to complain than to work hard. I hate to admit it but nowadays most americans are fat, dumb and lazy. Thats what I see every day. They complain about not having enough $ but refuse to work overtime or cut back on spending. Hard to believe more than 50% of americans were dumb enough to vote for Joe Biden, we are getting what they voted for thats for sure.

I am trying to get my sons to understand this and its pretty aggravating. My oldest just turned 16 in Feb, and just got his license a few weeks ago. My insurance went from 119/mo to 302. My dad is gifting me a car for him, which adds another $50. Then there is the cell phone of his. He had to have a new phone, which was $800, and has to pay me every month. I probbaly should have said no to that. I stopped by the gas station yesterday to fill up my truck, and it was over $80 bucks. I got in and asked him, how much did you get paid last week? He says $240. I said take out $80 for gas and how much do you have left?

He wants all this stuff. Wants to tint the windows on the car dad is giving him. I am sure he will end up wanting a stereo. He asked me the other day if I was going to "let him" go to T-town to help my sis move. I said probably not. He says why? I said gas is over $4.50 a gallon that's why. My parents want to do a family vacation, and I said I wasn't going. My son goes why? I said, because it will be over $400 in gas just to go. Over and above what I spend just to go to work.

I have to sell my "hunting truck" now, because I don't have room for 3 vehicles and a 14ft trailer at a garden home. And that will drop my insurance a little. Insurance for him with full coverage on the vehicle my dad is giving me would push my monthly to $460/mo.

On top of groceries, with 2 teen boys.

It’s a struggle to teach kids the value of a dollar these days. Mine are 22, 16 and 15. My 22 yr old prob has more in the bank than the average 35 yr old, thank God he listens. My youngest two are too social and worry about what others think unfortunately.