Yesterday I saw an announcement that some High Schools were considering adding a course/section on "Personal Finance." I thought "wow" this has been discussed for years and at one time was actually implemented in some schools.

In my opinion this is something that should be taught in all schools.

 It doesn't matter whether you are college bound or not, one needs to be able to open a checking account, write a check and reconcile your bank account monthly. Understanding how your debit card on your bank statement works and how to make a deposit is something that everyone needs to know.

Basic everyday budgeting is a necessity. Understanding cash flow and how to stay within ones means is mandatory. Credit cards and the pluses and minuses is so important today. The good and the bad!

The basics of just reconciling your bank account is a mystery to many and it doesn't need to be. I know many folks who still don't even attempt to reconcile their account. The hope that they never get overdrawn. In my early days as a young junior accountant in public accountant, one of my duties on an audit was to reconcile bank accounts. I was taught to start with two columns, Bank & Books. After putting in the balances of both at the end of a period, I then made adjustments for each column until the balances were the same. Understanding the concept made it very easy.

Budgeting your income and expenses is also a basic approach to sound financial management not only for yourself but for your family. You don't need to understand debits and credits in accounting "speak" but you should understand "Cash Flow" and that "Cash is King."

These concepts are vital to everyday life and there is no better time to understand them then in High School. Hopefully, more school systems will see the wisdom of incorporating them into their curriculum.