4 Things School Failed to Teach You About Money

Your First 100k
The Dark Side
Published in
9 min readMar 8, 2021


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Everyone wants to have money. Lots of it. Who doesn’t? Admit it, it’s part of human nature. It’s because everyone wants to afford a certain lifestyle. Sure, it’s wonderful to have beautiful things such as cars, houses, and other luxuries. Let’s say you do become successful in your startup. Your bank accounts are looking nice. If the numbers keep increasing, that’s great for you! You might be making a higher income than most people. The problem may lie after having plenty of it. The next question is, how do we manage it? If we don’t know how to manage money, we may lose it in the quickest way possible. Poor management can have catastrophic outcomes. The final resort would be filing for bankruptcy. Of course, that’s the last thing we want to happen. Believe it or not, it happens to people like celebrities, millionaires, and the list goes on. If it can happen to them, it can happen to you!

The real questions we must ask ourselves are these. Must we succumb to the endless cycle of debt? Is there a need to get things that are out of our reach? Is it normal to live from paycheck-to-paycheck? Whether you like it or not, many people fall into the same trap over and over again. After reading this article, you’ll realize it doesn’t have to be that way. With knowledge in handling personal finances, we can arise better than that. Be the change in this generation so that you too can afford that lifestyle you’ve always wanted. Settle your priorities first and realize what’s more important.

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“Academic qualifications are important and so is financial education. They’re both important and schools are forgetting one of them.” -Robert Kiyosaki

The transition from being a student to a worker is not an easy one. We cannot apply everything we learned in school in real life. There are a lot of realizations that we’ll encounter. From that, we have to adjust ourselves. We have to unlearn the things we learned in school to relearn. This is the harsh reality that everyone will have to deal with. This is the stuff that we don’t learn in school. It doesn’t make our lives easier. If we learn a few essentials now, it will be easier to deal with later on. We must put on a brave face and never stop learning no matter at what age we’re in.

There are many things you’ll learn on this journey. First, it starts with acquiring knowledge by reading this article. These are the things they don’t teach you in any school. To be honest, education systems need to be changed badly. As a result, fewer people become trapped in their worse nightmare. Having a basic subject on Financial Literacy or Financial Management will do wonders. It would have prevented or alleviated these problems in the first place. Most schools train us to become employees, instead of being entrepreneurs. Training should start with thinking outside of the box. Being an employee is great but only to a certain degree. Being an entrepreneur gives much more freedom when it comes to time and effort.

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1. Not All Schools Offer Basic Education Courses

Aside from technology, the education system of man schools hasn’t changed much. It prioritizes other subjects like English, Mathematics, and others. Any student can be knowledgeable in these subjects. It’s upsetting that not everyone knows how to handle personal finances. Why aren’t schools more focused on practical life skills? Isn’t that what’s causing problems in real life?

Schools shouldn’t focus on grades and assessments. Once you graduate into the world, they won’t matter as much. This might sound familiar. Our parents told us that if we excel in school, we will get offers from reputable companies. This is not the solution. Welcome to the 21st century, folks! This is a lie for us to stay focus in school. We know much better now. Companies are more interested in your potential and ability. And how you can be of use to achieve their vision. In return, you’ll receive compensation with monetary benefits and rewards.

Once a student graduates from school, reality will slap in hard. Once we get a job, we won’t be assessed on grades. It’s more about ability and performance. No one tells us how difficult it is to manage personal finances. The most practical tip is to save more, spend less, and invest more. The irony after graduating from college is that we shell out more money to take up more courses. There’s nothing wrong with doing this especially if you want to excel in your chosen career. The real question is this. Wouldn’t it be more practical to have more subjects that simulate real-life in school? Personal finance, for example. It would make more sense you have some kind of idea on what to do after graduating from school.

The findings of the Financial Industry Regulatory Authority’s Investor Education Foundation are promising. High school students who took up personal finance subjects scored better credit scores. They also had lower debt delinquency rates later on. Personal finance subjects should be introduced during high school. Now, students will be able to handle their money better. It will prepare them for college and university life. It will still be applicable for the rest of your life.

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2. Consumerism Equals Temptation

Whether you are working or receiving money through university, budgeting is a concern. Freedom is still there but it’s still limited. Once you start working, receiving that first paycheck is the best feeling in the world. You feel invincible more than ever. Chances are you’ll want to spend your money on the things that you’ve longed for. Why? Because you’ll feel it’s the right thing to do. It’s a reward for yourself and that you deserve it. But that’s okay. As long as you don’t trap yourself in that cycle, living from paycheck to paycheck.

Every day we are bombarded with media advertisements. They are telling us to buy new cars. Banks are telling us to sign up loans with them. Technology companies are telling us to buy the latest phone or laptop. We can’t lie, it’s nice to have all these things. We may or may not choose to respond. The problem is if we have money in our bank accounts, there’s a reason not to spend it. That’s where the problem lies. If everyone else out there is telling us to buy, why isn’t there anyone who is telling us to save? Is there anyone out there knocking sense into us by saying, isn’t saving is the better option?

Everyone who learned the basics of financial education earlier is lucky. It would have a tremendous impact later on. It will teach us to think twice before spending. In this time and age, we have to make important decisions with money. It’s not about spending all to make others green with envy. The best decision would be to save it for future investments so that you can make more money from it. Wouldn’t that make more sense?

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3. Trapped in a Vicious Cycle

Any relationship with finance normally starts at home. We witness how our parents dealt with it. If your parents had no idea how to deal with finance, chances are you’ll adopt this. Why? Because it’s the only knowledge you picked up. Based on experience, there are a lot of problems. Especially when it comes to poor spending habits and debts that are piling high. Break the vicious cycle. With you, it doesn’t have to be this way since you know better. Ask yourself which is more important? Should we maintain a luxurious lifestyle by having no money in the bank? Or become debt-free but having more than enough in the bank? You know the answer to this question.

Some people think it’s part of life living from paycheck to paycheck. It might work out for some people but with those who plan, it won’t do. Living this way is rather reckless. What if something bad happens to you? Will you have emergency funds to help you recover? If your answer to this question is no, you have to start thinking and planning for your future. No one wants to be trapped in this vicious cycle forever, right? Good, you can start right now.

That’s why it’s important to invest yourself in the basics of financial education. We don’t want to be that generation trapped in student loans or car mortgages forever. That’s why we have to be financially prepared by taking calculated risks. We have to curb our spending habits and cut unnecessary splurges. Our spending habits will determine our saving habits.

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4. Never Stop Learning

Where do I start? Hey, if they haven’t reformed the education system based on the current trends, that’s out of our reach. It doesn’t matter where you are right now. If you are starting life after graduation or already on your way. Don’t lose hope. There is hope for everyone. Change can start right now. We can find solutions to the problems we created in the first place. What do we do if we want to be more financially prepared? We can research, learn more, and even enroll in basic personal finance courses online.

The first step is getting started. Believe it or not, there are so many resources online that are waiting to be discovered by someone like you. The best thing you can do today is to steer in the right direction. Develop the right kind of habits. Most importantly, be practical and consistent in everything you do. One day, you too will be able to reap what you sow and enjoy life’s rewards.

We are sure that everyone is interested when money is involved. It’s a matter of developing good habits now because it will help us later on. We want to influence the younger generation and even one day, our children. We don’t want to see anyone struggle and be trapped in the same vicious cycle. We want everyone to take life into their own hands so that they can enjoy the most out of it. We will be able to shape our future better and achieve our dreams in the fastest route possible. Wouldn’t that be wonderful for everyone?

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These are some of the things that you should be able to help you out. No matter where you are in life. We are still thankful that we are or were able to go to school. Many of us are pursuing our careers and passions. But, there are a lot of things that schools can improve on. They need to consider the trends that are happening right now. These education systems need to produce financially capable students as well. We can spark change and inspire the future generation. After all, they will be the ones needing it the most.

It’s impossible to revolutionize the entire education system. It will be a slow process, depending on which country. We have to start with ourselves. It would be nice to wake up with this. You are glad that the next generation won’t encounter the same financial problems. A smarter generation won’t fall into the same money trap that the previous ones fell into. We must have better saving and spending habits when it comes to money. We can learn to stay focused on our goals. If that includes being financially independent of debts, at least we know where to start.

“The single biggest difference between financial success and financial failure is how well you manage your money. It’s simple: to master money, you must manage money.” — T. Harv Eker