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3 Crucial Things That School Never Taught You

This is a guest post by Jacob Share of JobMob

Dabbawalah

Are you one of those people who say they never learned anything in high school? Me neither. I learned a lot in high school, but there were some critical topics that never appeared on the blackboard.

1) Parenting

Carrying an egg around for a week isn't parenting. The sad thing is just doing that class assignment would have already put you "in the know" compared to most other high school graduates.

Looking at how you were raised by your parents will rarely prepare you for the real thing, which is why so many people agonize before having kids and then get stressed out when they do. Or worse, they become bad parents.

2) Financial Literacy

Can you read a company's financial statement? Could you read one when you finished school?

Let's try another example- do you know what the difference is between an asset and a liability?

Most people aspire to buying their own house for when they decide to settle down. Seems like a good asset to have, right? Think again. As long as you're paying off the mortgage on that house, it's a liability, a debt to pay off, not something bringing you any immediate returns. And because you're covering a mortgage, you're actually paying much more than the house cost the bank to buy it for you in the first place.

3) Job Hunting

People should love job hunting. It's a chance to do something better, to raise your standard of living, to move up in the world and improve life not just for you, but your dependents as well.

So then why does everyone hate looking work? Because they were never taught how to do it. As a result, they lack self-confidence and steel themselves for potentially months of the resume-interview-rejection cycle and should hardly be surprised when they meet those low expectations.

What you can do

If the educational system won't educate you, you need to educate yourself:

  1. Read – there are many terrific blogs, self-help books and guides that can teach you but do yourself a favor and start reading BEFORE you need to make life-changing decisions on these topics.
  2. Learn – consider enrolling in an online course, local seminar or workshops with experts who have a proven track record for what they teach.
  3. Network – join support groups, discussion forums and social media sites whose members have similar experience or better. Try to find a mentor you can follow to success.

What do you think?

How were you able to overcome this missing chunk of your education?

About the author

Jacob Share created JobMob to bring together job seekers and jobfinders to find jobs in Israel and all over the world. The blog is filled with straight-talking advice based on real world experience and lots of humor thrown in, so you should subscribe now to JobMob via RSS or email if you're looking for a better job or just want to laugh about it with articles like the 150 Funniest Resume Mistakes, Bloopers and Blunders Ever.

photo by A Y A n

Additional Reading:  Know more about the guy in the picture above dabbawalas

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28 comments
John Hoff - eVentureBiz

Good points, Jacob. I wrote an article titled Unconventional Thinking: Unlearning Your Education where I talk about how schooling doesn’t necessarily teach us how to be different than everyone else. In fact, we’re all taught the same thing and thus we all come out of college thinking the same way.

The way I overcame my missing gaps from schooling were from my father teaching me stuff like how to balance my checking account and like you said, learning on my own and networking.

Bobby Revell

This is so true, especially in the area of parenting and the only eggs I have are being fried up LOL! The greatest aspect of blogging is in education. I’ve learned so much from other people here, and blogging made it possible. I am so glad I decided to be a blogger :smile:

pearl

@IT Governance Blog: So true… I’m into HR myself and see this happening so often.. people don’t even want to think about the process of finding new job until they are forced to..

@Deb and @Mike: completely agree with you guys on investing into buying the house for various reasons you’ve outlined but we’ve all seen numerous foreclosures in the past few years too and that’s only because people took a plunge without having any idea if they could afford the house or not. Owning a home is very enticing but it’s not only the mortgage, it’s the whole slew of added expenses to maintain that house, is what people often overlook.

So, before they can call that beautiful home ‘their own’, it’s really a liability, is what I think Jacob is saying. This again boils down to getting educated in how everyday finances work and how to balance a checkbook!

Mike Scott

@Pearl
That is true, but I think it really boils down to living within your means. There are a lot of unfortunate things happening to people, losing jobs, medical expenses, etc, that change their situation, and make the mortgage payment impossible, but it would have done the same for a rent payment.

Many people are getting into trouble because they bought a house that was as expensive as they could afford. Not to mention the “interest only” mortgages that were becoming so popular. The banks and lenders made it really easy for people to stretch themselves out too far. Then something happens, and it’s impossible to meet all of your expenses.

I think this is true with gas prices today. It’s a bummer that prices are way up, but how many people bought 30 or 40 thousand dollar vehicles, and now that their fuel costs have risen, they can’t afford to pay for the vehicle AND the gas that they need to drive it?

Personally, I’ve owned the same vehicle for 10 years, and haven’t had a payment on it in 5 years. It’s nice. I bought a second vehicle, a 1984 CJ-7 for $3000, and I’ve never had a car payment on it. The gas increase has hurt, but not that bad.

Of course, I’m not perfect, and I could sure stand to reduce my expenses even farther, but I think that’s the key, living within your means.

Mike Scotts last blog post..Another X Files Movie?

pearl

True..budgeting is the key. My car is also almost 8yr old but I couldn’t have the courage to buy a 1984 vehicle :) And as an aside, whereas I pay off my credit cards every month in full, Im still having a difficult time saving anything… Some of my colleagues have started carpooling lately but it’s not for everyone, so trying to make the two ends meet and then save something is always a challenge..

Mike Scott

@Pearl

It sure can be a challenge. It sounds like you’re doing better than many of us. I wish I could say I pay off my credit cards every month. I think the key with savings is to take it out of your paycheck before you see it. If your employer does direct deposit, have them put it in a savings account. You’ll get used to it missing.

I think one of the most important aspects of personal finance is to have some type of emergency fund, so that if something happens, you can still get by for a little while.

My wife would agree with you on how smart it is to buy a 1984 vehicle :-) It’s actually one of the last years of the Jeep style I love. It’s my dream car, so it was kind of a splurge. Keeping it running can be a challenge sometimes though. :-)

Mike Scotts last blog post..Make some cash with CrossLoop.

Craig

I absolutely love self improvement lol you could probably call me a fanatic

Samir

I think #2 is THE big one.

Most of us are brought up fearing money, or not understanding money. Both are basically two extremes of ignorance on the subject, with a healthy understanding of it lying somewhere in the middle.

You know the other problem? You keep getting told that “money is not important”. While that might be a philosophical or psychological truth to do with happiness, the constant repetition brainwashes us all into thinking it’s a practical one. It isn’t.

Samirs last blog post..I’ve Never Read an Ayn Rand Book

Mike Scott

@Samir
I always liked the quote:
“Money can’t buy happiness, but neither can poverty” – Leo Rosten

Mike Scotts last blog post..Show 015 – You’ve actually seen Windows 2?

MorganLighter

There were a lot of things that I didn’t learn in school – but fortunately I learned a lot from my parents and from reading books that were outside the curriculum taught in school. Most things we own come with instructions, but money isn’t one of them.
Regarding the purchase of a home – most buyers elect a 30-year mortgage, not realizing they could reduce that time period by almost half. Let’s say your mtg. is $1000 and it’s due on the 1st of every month. Pay your mtg. on the 1st then pay 1/2 your mtg. on the 15th, then 1/2 on the 1st and continue this schedule throughout the year – you will have made one extra payment (13 payments instead of 12) – but because the lender is getting his money earlier, depending on the interest rate, you can pay your house off 10-15 years earlier. You can also use this same method of payment for your vehicles, credit cards, etc.
Another tip – when you get a raise at work, don’t spend it, bank it and once you’ve paid off a credit card (assuming you haven’t or can’t pay off your card monthly) or vehicle, take the money you were sending off to creditors – and save/invest it.
And, of course, you should always be paying yourself first – meaning, put 5-10% of your net income in savings before you pay anyone else – and keep it there!