> I think this is really great but IMHO college is too late for this. Personal finance should be taught in middle and high schools just like health classes.
That's all well and good, but it won't really help if the students have no real income to practice with. Sure you can warn them of going into debt, but on the other side of the coin "This is what you should do if you theoretically had a salary" is less effective than "So you have a salary. Here's what you can do with it"
This is what allowances are for, teaching them how to make right decisions with their own money early, with all the resulting consequences for bad decisions.
That's all well and good, but it won't really help if the students have no real income to practice with. Sure you can warn them of going into debt, but on the other side of the coin "This is what you should do if you theoretically had a salary" is less effective than "So you have a salary. Here's what you can do with it"