How much formal financial education have you received in your lifetime?

posted 3 years ago in The Lounge
  • poll: Where did you learn about personal finances?
    At school (K-12 or college) : (37 votes)
    18 %
    Classes (not at school--church, external organization, seminars) : (8 votes)
    4 %
    At work (on the job, professional development) : (14 votes)
    7 %
    Parents/Family : (67 votes)
    33 %
    Internet/Personal Research (books, articles, webinars, etc) : (47 votes)
    23 %
    Other (please list below) : (5 votes)
    2 %
    None (I received no formal education) : (25 votes)
    12 %
  • Post # 4
    3588 posts
    Sugar bee
    • Wedding: December 2011

    I took business classes, including accounting, as electives in high school.  I’m also a business major in college.  My dad is really good about saving money, so I think that for personal stuff, I may have learned a bit from him.  Without that, I don’t think I would have learned anything about finances from the core curriculum in school.  I think maybe at one point in a math class or something, they showed us how to write a check.

    Post # 5
    1016 posts
    Bumble bee
    • Wedding: August 2014

    I can’t answer the poll. I’ve received no formal education but I’m much more financially literate than most of the people I know – I had to educate myself. My mom is a crazy spender who would leave me in the house with the electricity & heat cut off to go to her boyfriend’s. Yeah. My dad can make $5 stretch likes it’s $500 but I didn’t have much influence from him growing up, but I ended up somewhere in the middle with periods of extreme spending and extreme saving thrown in. I have found a good balance as an adult though.

    I guess I wish I understood the stock market better, but I’m not interested enough to learn and I feel it’s more than anything a bunch of hocuspocus forecasting lol.

    Post # 7
    2052 posts
    Buzzing bee

    My parents are BAD with money.  I used to be very bad with money.

    I had to take out student loans and pay my way for school….my parents didn’t go to college, neither did their parents and they didn’t see the value in saving for this for me…just a bunch of people terrible with money in my blood.

    I’m determined to break the cycle.  I’ve opened savings accounts, read many books about finances including my favorite ‘Your Money Or Your Life’.

    I am also on the mailing list to the websites, and also have alerts set up through  

    It’s embarrassing to admit how bad I’ve been with money.  In my sustainability of anthropology class, I suggested that a finance course be added to a high school cirriculum across the board because so many people could benefit from this knowledge in the USA.

    Post # 8
    1016 posts
    Bumble bee
    • Wedding: August 2014

    @bmo88:  oh when I first saw the poll I read “no formal education – i know nothing about finances” or something along those lines. That’s why I was like “but, but, but…!” lol

    Post # 9
    2823 posts
    Sugar bee
    • Wedding: December 2012

    My parents are really good with their money so they taught me a lot. I’ve also been working in finance for the past 6 years where I’ve learned even more.

    Post # 10
    12895 posts
    Honey Beekeeper
    • Wedding: June 2011

    Have you received formal financial education?  Nope, I didn’t even know there were classes for it!

    How did you learn most of your financial knowledge?  Observation of my parents

    Did your parents set a good example/teach you good practices?  Yes!  They taught me to save and to shop smart, and that when they used credit cards, it was for convience, treated as if it were cash and always paid off every month.

    What do you wish you knew more about?  Not sure, maybe how to make better investments. 

    What resources would you recommend to other bees?  I have no idea since my only resource was my parents leading by example.


    Post # 12
    2355 posts
    Buzzing bee
    • Wedding: September 2014

    In order to benefit from financial education, you have to have finances to begin with. That’s why the majority of Americans don’t take formal financial educational courses. I’ve never heard of anyone doing that. It’s not rocket science to figure out that more money going out than coming in is a problem or that being irresponsible with credit will land you in a mess.

    All the financial education in the world isn’t going to matter if someone is living paycheck to paycheck. You can’t magically save money or invest (haha) when basic, no-frills living expenses take up your entire income.


    Post # 14
    941 posts
    Busy bee
    • Wedding: May 2014

    Have you received formal financial education? 

    Yes. My FI and I took a personal finance course this summer. It helped us transition from living essentially paycheck to paycheck to living 1-2 months ahead with a pretty good emergency fund. We’re low income so that is a big deal for us.

    How did you learn most of your financial knowledge?

    I learned most of my financial knowledge from my mom who is a certified public accountant. I actually know a lot about personal finance and am pretty good with money. My FI had almost no personal finance knowledge (and was admittedly bad with money) before we took the course.

    Did your parents set a good example/teach you good practices?

    My parents did. My FI’s parents did not. His mom lives paycheck to paycheck, has had multiple cars repossessed, ect.

    What do you wish you knew more about?


    What resources would you recommend to other bees?

    LearnVest and Credit Karma. I also personally like Suze Orman but I know not everyone cares for her.

    Post # 15
    10454 posts
    Sugar Beekeeper
    • Wedding: January 2011

    There was a little bit at school, but not enough.  My parents taught me some, moreso about being financially responsible.

    DH took a personal finance course in university.  He’s taught me a little bit, and I’ve learned quite a bit on my own.

    A big issue I’ve come across is that people who should be used as resources (people working for banks) aren’t informed of things they should know.

    Post # 16
    1986 posts
    Buzzing bee
    • Wedding: November 2013

    Im a financial advisor and FI is an accountant.  I work primarily with low income, pay to pay living clients and FI works primarily with multi million dollar individuals and companies. 

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