Patrick Dwyer Merrill Lynch – Why More Finance Should be Taught in Schools

I was talking to my good friend Patrick Dwyer Merrill Lynch genius and financial superstar last week about the education system and it is very much his belief that finance should be discussed more in the classroom. Of course at college level there is a lot of finance discussed but in the main it isn’t something which younger children have the opportunity to learn about. I wasn’t entirely sure how I felt about this but after discussing it with Patrick for some time he did bring me around to the idea. I would love to get your thoughts on this so here is why Patrick thinks it makes sense, have a read and then let me know what your opinions are in the comments section below.

Business Preparation

The number one reason why so many businesses fail is down to financial mismanagement and if more youngsters were able to get a grasp on finances and understand how they work from a business perspective, we could have a lot more profitable businesses in the country. There are no lessons for people on how to manage their money in the business world and the result of this is people who cannot be responsible for the money within the business.


You only need to take a look at the huge amount of people who are in terrible debt problems to realize that we have clearly failed as a society when so many people feel like they have to plunge themselves into debt in order to survive. Many people have no idea whatsoever about APR and interest rates and this is often what gets them into trouble in the first place. If we can properly educate our children on how credit works and the dangers that are apparent, we can contribute towards our young adults being more financially aware and ultimately more financially astute. Unpaid debts damage people’s lives, they damage businesses and they do not help the economy in the slightest.


Many of our young boys and girls know nothing about how to save up for something that they want to buy and this is yet another reason why so many people are plunged into debt. If we are able to teach these young adults about the value of savings then we can help them to understand what it takes to keep money to one side for a rainy day, or how to spend sparingly in order to get the money together to buy something which they have had their heart set on. We must ensure that the kids of today are buying things with money that they have saved up rather than buying things first and then paying for them later.

What are your thoughts on teaching kids about business and personal finance in schools? Do you agree with Patrick or do you have other ideas?