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Comment by sbarre | Hacker News Reader

This ties back to something I've been saying for years: High School should include a basic course in financial education.

Understanding budgeting, interest on loans & credit card debt, how a mortgage works, saving for retirement, etc...

So that once you get into the real world, you aren't learning this stuff through trial and error.

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It's this a million times. As a Canadian I've talked to a staggering number of people who don't understand finances or basic financial instruments. At best they end up terrified of anything so much as a credit card, and at worst they end up like the family in this story, just grasping whatever ill advised financial resources are available to live the life they feel is right.

My person pet complot theory is that this is because if they would teach even the basics of proper financials to future household runners the system would not be able to profit so handsomely of the victims.

I think sadly the assumption is that kids will learn about finances from their parents, but since so many adults also don't know enough about this (and often shield their children from the family's financials), that's a bad assumption to rely on.

We used to have that in Quebec when I was in high school (in the 90s) but they took it out a couple of years ago.

I remember doing budgets and figuring out how much it would cost to leave your parent's place, rent an apartment, buying fridge, furniture, etc. to help you prepare for being an adult.

They're talking about adding it back now.

I love hearing that, and I hope they do bring it back..

I was in high school in Ottawa in the early 90s and there was nothing like that.

Yes! It was called Family Economics, and was by far one of the best classes I've ever had.

They even taught you basic cooking and sewing. Our final cooking exam consisted of every team of 2 students being given 20$ and an hour and a half to go to the grocery store across the street, buy ingredients for a pizza and then cook it, without assistance from the teacher. You were graded on budget, teamwork, time taken and the quality of the cooking.

I still think that is a genius idea for an exam.

That's it, "Économie Familiale". We didn't have a grocery store near our school and don't remember that well but I think out school provided the ingredients, or maybe we brought them from home?

If you can read French, I found these documents that are interesting while researching the subject:

http://collections.banq.qc.ca/ark:/52327/bs1561252

http://collections.banq.qc.ca/ark:/52327/bs41338

The second one says it's approved by the Catholic and protestant counsel for superior education...? http://cse.gouv.qc.ca/FR/Historique/index.html

Huh we had Home Ec classes as well, but there was no financial planning or budget component to it, and it wasn't in high school it was in middle school..

Seems to make way more sense to have it in high school

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