Skills for the Future: Investing and Personal Finance
More by Ryan Barthold |NEIRAD enilno edition
In G-208, Darien High School’s stock market buzzes. Shares are traded, and the numbers rise and fall. Yet this stock market doesn’t cause recessions, depressions, or angry shareholders. This is Patricia Brooks’s Investing and Personal Finance class, a one-semester elective that prepares teens of every grade level to make decisions they will face as both students and adults functioning in a dynamic global economy. According to Mrs. Brooks, “preparing kids now (with financial knowledge) is important, as they soon will be out in the world on their own.”
While it used to be that knowledge in finance wasn’t a skill needed until later in life, things have drastically changed. With the United States recovering from what many experts believe is the worst recession since the Great Depression, “financial literacy” is more valuable than ever.
That is where Investing and Personal Finance steps in. “It is a very hands on class, with students learning vital skills for the future.” Mrs. Brooks said, who has been teaching the class for seven years. “The overall goal of the class is to teach students financial literacy, and learn financial planning, budgeting, and credit card risks.”
Students manage two $100,000 portfolios, and are responsible for tending to them throughout the semester. “We try to simulate a little part of the stock market” Mrs. Brooks said. Apparently the stock market has begun to catch on. Last year, Mrs. Brooks had more than 20 kids per class, and two classes a semester. This year she expects even more students to take the course, as a recent U.S. government survey concluded the majority of high school students felt that they were not prepared to manage money after graduation.
The US Department of Treasury aims to change that fact. In 2002, the government launched the National Financial Capability Challenge, a national test open to high schools across America. The test is a 40-question online exam that measures a student’s knowledge of personal financial skills. Last April, more than 76,000 students from around the country sat this exam.
Twenty-six investment students took this challenge this past spring, and did extremely well. Nine students scored within the top 20% of the nation. In fact, three students missed only two questions or fewer. Senior David Bigelow finished at the top of DHS students, missing only one question. Overall, DHS students scored an average of 76% overall, while the national average was 70%.
But the surprise comes in when it was discovered that DHS students only had three weeks to prepare for this test, while the rest of the country had prepped since September of 2009. “Because this is a semester course and most kids just started in January, we only got to go over one unit before taking the test” Mrs. Brooks said. “Other students around the country have a full year course, some that even focus on preparing the students specifically for the Treasury challenge.”
“Even though we had only a little time to prepare, I felt that Mrs. Brooks prepared our class very well” David said. “She did a great job, and the results prove it.”
Bur for some students, the class isn’t all about money. Former junior business student John Baker says Mrs. Brooks also teaches valuable skills for every day life, not just finances. “One of her lines is ‘you do not plan to fail. You fail to plan.’”
Due to the past successes of the class, Investing and Personal Finance has a bright future here at DHS. Mrs. Brooks has high hopes for it as well. She would like to see Investing and Personal Finance become a graduation requirement. “What this class offers is so valuable to everyone, because it encompasses things everyone has to deal with in their lifetime.”
