I am. But maybe I’m the only one.

The past couple of days have been made up of a lot of looking back. Looking back on all I’ve accomplished. Looking back wondering whether I’ve learned enough. Looking back to make sure the roomies don’t mistakenly pack something of mine as their own. (The move is going well, if you’re wondering…)

I suppose my retrospection isn’t going unnoticed because my boss and friend passed along an interesting post. It comes from another blog run by an English prof south of the border. In her post, she suggests the idea of mandatory introductory finance classes for university students. In fact, she says that the class could be more beneficial than those introductory classes already in place:

But a personal finance course would benefit almost every student who took it. And it would benefit the society at large: widespread formal training in personal finance skills would reduce indebtedness and improve savings rates.

Keeping in mind that this is an American site, I tried to see whether any Canadian Universities offer a mandatory class such as that described. My search turned up empty. I know my University didn’t require that kind of class.

So, I tend to agree with her suggestion. I look back—or rather, try to look back—at many of my first year classes and remember just what it was I took away from them. The answer is: not much.

I turned to a friend to see what she thought of the idea. Her response surprised me: “I don’t think it’s my school’s job to provide that,” she said. “I go to get academic training and I don’t think that my personal finances have anything to do with that.”

Instead, she suggests voluntary workshops offered by student unions or within residence communities. I know my school offers a tax clinic during tax season and I imagine other schools offer similar programs, but what about something more?

I then asked her whether she thought that this type of course could work in a high school setting. In Ontario we have a mandatory class that sees every student gain an introduction to career options within Canadian society. She suggests that within the class, “Career Studies”, finance classes could be taught and would possibly be more beneficial than those lessons currently taught within that class. She remains hesitant, however, because personal finance is “not as relevant at this point in your life.”

An article appearing late last year in the Toronto Star, emphasizes the benefits of implementing mandatory classes earlier in life:

We should immediately establish a mandatory series of high school courses centered on money. After all what's the point of going out into the work force or on to college or university if you don't understand and can't manage your money.

Early on in the money curriculum students would keep a register of all their incomes and expenditures. What's important here is not the amount of money involved but how it is spent.

To test this idea, I went to someone who may know best: my 15-year-old niece. Initially she seemed opposed to the idea of a mandatory class. “I’d be angry she told me because I’m not very good at math,” she told me. But as we discussed whether or not she was sufficiently financially informed as is, her opposition seemed to ease up a little.

I think the important item to note is that there is a clear misrepresentation of adequate financial training for my generation. I didn’t know much about money until this year—and it’s a little late, if you ask me.

So, should money management classes be mandatory in post-secondary school?