When income tax time rolls around, it seems like we all collectively groan and are generally confused about what to do. Whenever I have a conversation with anyone about taxes the first thing that comes up is, “Why didn’t we get taught how to do this in school?!”
If they had, I’m sure so many of us would have just rolled our eyes at the class and thought it was a waste of time, but we still would’ve taken something away from it. Regardless of how our angsty teenage selves would’ve reacted to information like that, it still would’ve been nice to have a foundation on which we could build our future knowledge.
So today I’m going to share some things I wish I had been taught in order to make adulting less difficult.
1. How to budget our finances.
When I say how to budget, I mean literally showing us the benefits of a budget and how it can be used in multiple situations. E.g. a food budget.
2. Managing a household.
I would’ve loved for someone to show me how important it is to pay my bills on time, how to create cheap and easy meals, and pretty much all the important life skill basics that so many first year uni and college students seem to lack.
3. Why it’s important to open a savings account.
My parents were awesome enough to teach us the importance of saving your money for #futurefinances, but some people never had the opportunity to learn why having a rainy day fund was necessary. If someone had taught us to open up a savings account and put $10 into it at the end of every week, we could all be breathing a wee bit easier when it came time to pay back our student loans or just pay for school.
4. Building up our credit.
If you’d asked me what a credit score was back in high school, I wouldn’t have been able to give you an answer. Now that I’m starting to get my adult on, credit scores come up more and more. Want to rent/buy a house? Better have good credit. Need a mortgage or are trying to buy a car? You’d better believe that they’ll check your credit.
5. Why having employee benefits are boss.
Growing up, when I had to go to the doctor or the dentist (which I hated) I never really understood how my famjam paid for it. I remember once my mom telling me about being on my dad’s health plan, but that never really registered until I turned 21 and no longer qualified to be on the plan. It was then up to me to find a job that had good benefits so I could pay for that trip to the optometrist without racking up credit card debt.
These are just a few of the things I wish someone had taught me in school. I feel like it would have been less of a shock once I began taking control of my own finances and managing my own life.
What’s something you wish you could have learned? Tweet us @MoMoneyMoProg or leave us a comment below!