Southern Iowa | Usedtofarm - 12/23/2024 13:44
I'm an Ag Banker in a small rural town. Was asked to speak to a group of 11/12 graders this fall. I was surprised how little these kids knew about Interest rates, Borrowing, Etc. But looking back 40+ years when I was that age, I didn't know much about Economics either. First Economics class in College, I was lost. Returned to College 8 years later and the next Economics class(s) were much more interesting and valuable. One Professor had the saying "Education is wasted on the young", she recommended everyone take 3-5 years off after HS, see the world, get some real life experience and then go to college. I somewhat agree with her. And I graduated with NO Debt.
The power of compounding interest is a foreign language to most high schoolers and adults.
It can be good in a savings/brokerage account or obviously bad with a cc account.
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This doesn’t make any sense to me.
