Practical Education...

Lutheran Social Services has seen a 25 percent increase in demand for their credit counseling services, according to a report by KSFY. Money is tight and all of us are trying to make the right choices, whether it is managing credit card debt or our retirement accounts. Read more here…

Part of the reason that we as a society make poor economic decisions is rooted in our education system. Many of us find ourselves in tough economic situations simply because we are not taught the fundamentals of smart money management. High schools require four years of English, three to four of math, and around 3 years of science, but where are the requirements for an economics or financial class? Economics affects us every day, and as we’re seeing now, we as a country do not make wise economic decisions. I do not think it is too much to ask to require one to two years of classes that guide students in wise decision making and will help them in their everyday decision making for their entire lives.

South Dakota currently only requires 0.5 units of an economics/personal finance class as a graduation requirement, compared to 1 unit of fine arts, 0.5 physical education, 3 of social studies, etc. Click here for the full list…

English, math, and science are very critical classes to be competitive in the 21st century economy, yet a tremendous amount of creative individuals outside those fields will innovate and utilize new discoveries and technology to create small businesses. Others find themselves working for these small businesses. Either way, three years of science will not help small business individuals much when they do not have the knowledge to manage accounts or invest wisely. More entrepreneurship, the spirit that makes this country great, would be possible if schools would also, in addition to the critical fields of math and science, teach competencies needed for wise economic decision making in personal and business life.