Through speaking with friends, some who were more versed in the economy and others who weren’t, one thing was clear: the general population does not know much about their own economy. Finance major Matt Ward stated that financial markets are the reason why “people are able to retire and save money” and why “big corporations are able to invest and expand.” When viewed objectively, it seems quite alarming that so many people do not know enough about their own money and market that allows them to earn a living, spend money, and travel. But, once you take a closer look, how are people actually supposed to learn? Personal finance classes are a rare commodity in high school, or at least at the high schools of the friends I spoke with and my own. From afar, the stock market seems like a jumbled and confusing mess, and isn’t much clearer up close. Retirement and college funds scare people, and as one of the people I interviewed summed up, “People don’t think about the economy and their student loans because when they don’t, they’re happier.” 

So why is it that so many people don’t have the correct information about the economy they should have? Marketing and Operations Management double major Ella Kolln knows a thing or two about the business world. Ella mentioned that even though her economics class is full of intelligent business majors, a lot of them “are surprised when they find out common misconceptions about our economy” and that they are constantly learning things that they never would have thought were true, simply because there is a lack of education regarding the subject matter. My RA brought up a similar idea, elaborating on the idea that many people will leave college without the experience of handling taxes and personal finances, simply because it is unrealistic and very difficult to “go to class, develop yourself psychologically, and have a rounded college experience” all while working a minimum wage job because your lack of credentials were unable to put you in a top-paying and career-oriented position. 

With the weight of the stress of college and the constant pace of the world around us, it seems of no significance to put knowledge of personal finances and the economy as the priority. Before institutes of higher education, school districts, and corporations can start placing this emphasis, change has to start individually. As all of the people I interviewed agreed with, attempting to better yourself is the first step in greater success.  If more schools and people themselves are able to place an emphasis on the importance of this knowledge and start offering more personal finance classes, then generations of people well versed in the economy will begin to grow and develop, ultimately leading to more successful personal finances and a greater awareness of the economy around us.