the staff of the Ridgewood blog
Ridgewood NJ, with back-to-school sales-tax holidays starting up, the personal-finance website WalletHub today released its 2022 Back-to-School Report, which includes the results of a new nationwide survey of parents as well as picks for this year’s Best Credit Cards for Back-to-School Shopping.
“Roughly 7 in 10 parents say their child’s education is worth going into debt for, according to a new WalletHub survey. A quick look at credit card debt levels will show you that we’re generally unhesitant to overspend, and when the expense is as significant as education – both in amount and importance – all bets are off,” said Delaney Simchuk, WalletHub analyst. “Parents want to help their children as much as possible, and a good education is a dependable road to a solid professional career. Parents simply should not forget that they are financial role models, and putting themselves in a precarious position could actually jeopardize their kids’ future.”
“A new WalletHub survey found that 66% of parents say the pandemic has changed the way they plan to spend money on education, and many of the changes are already being implemented. Some families have moved states for more dependable in-person learning, while others have started saving for private school after previously planning on public education – just to name a couple popular adjustments,” said Delaney Simchuk, WalletHub analyst. “Time will tell how inflation or the next big crisis will further affect pandemic-inspired educational investment plans.”
“A new WalletHub survey found that 86% of parents think financial literacy should be part of the core curriculum, highlighting the importance of money management skills at a time when financial literacy is low, personal finance isn’t taught widely enough in schools, and parents are often in stark disagreement about what’s appropriate for the classroom,” said Delaney Simchuk, WalletHub analyst. “Parents want their kids to be prepared for life, and budgeting, saving, investing, and even paying taxes are all important, practical life skills. Many parents also recognize the importance of having some financial know-how when making big-dollar decisions regarding higher education.”
Please find key takeaways below:
- Education is Debt-Worthy: Roughly 7 in 10 parents say their child’s education is worth going into debt for.
- Rethinking Investments in Education: 66% of parents say the pandemic has changed the way they plan to spend money on education.
- Calls for Improved Financial Literacy: 86% of parents think financial literacy should be part of the core curriculum.
- Equal Funding for Public Schools: Roughly 8 in 10 parents think all school districts should get the same amount of funding per student.
- More Spending vs. 2021: 1 in 3 parents say they will spend more on back-to-school shopping this year compared to last year.
- Back-to-School Savings: 46% of parents say they would apply for a new credit card to save 5% on back-to-school shopping.
- Sales Tax Holidays: Held in 18 states at different times during July, August and September, sales tax holidays are offering savings of up to 7% on popular back-to-school items.
- Best Credit Card for Back-to-School Shopping: The Blue Cash Preferred® Card from American Express offers high cash back earning rates in all the right categories, such as 6% back on up to $6,000 spent each year at U.S. supermarkets, where parents can purchase a lot of school supplies.
86% of parents think financial literacy should be part of the core curriculum.
Its more important to go to trade school and become a licensed plumber or electrician.
I guarantee you will make more money than someone getting a useless college degree.
Who would hire someone with a degree in gender studies or humanities
Plumber, Electrician, Carpenter…all great careers w upside of running ur own shop.
many option in the IT field also use certifications ,like UX design , Drone pilots and so on
Look what it cost to go professional driving school. C-d-l , not cheep any more. And all the extra fees. When done ten grand or so.
Look education is very important. But don’t waste big money on schools for your kids to learn bullshit. If you’re going to spend that kind of money let them come out with a degree that’s very important that they can use for the rest of their life. Some of these kids just wanna waste money and time and party and come out like a jerk off. Maybe if they’re not into school take that money and go buy a franchise business, and take a business management course at a local school. They might just do very well. The problem is everyone thinks they’re going to go to school and they gonna come out and make a lot of money doesn’t always happen. Maybe they need to go into the military for a few years and learn something and become tough.
Student loans should be qualified based on the students Major.