6 Things School Never Taught You About Money, According to Jaspreet Singh
You probably learned how to calculate the area of a triangle in school, but not how compound interest works or how to avoid paying nearly 25% interest on a credit card. According to Jaspreet Singh, entrepreneur, investor and founder of the Minority Mindset YouTube channel, that gap isn't accidental.
In a recent video, Singh said, "We go to school to get a good job ... but there's a disconnect there because we're taught how to get the job, but we're not taught what to do with the money."
Here are six things Singh says school should have taught if the goal were financial success, not just academic achievement.
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The System Makes More Money When You Don't Understand Money
In another video on the same topic, Singh argues that widespread financial education would disrupt how the current system operates.
"If the average American was more financially educated," he said, "our economic system as it stands today would fail."
He explains that multiple institutions benefit when people rely on debt instead of understanding how money works.
"Number one: Our government profits when you're in debt. Number two: Banks profit when you're in debt. Number three: Corporations profit when you spend all your money and are in debt," Singh said.
A Bigger Paycheck Doesn't Equal Wealth
Singh frequently emphasizes that income alone doesn't determine financial success.
"It's not what job you work. It's not necessarily what salary you have or what your parents do. It's what you understand about money," he said.
That's why, he explains, high earners can still struggle financially while others quietly build wealth through disciplined investing and financial education.
You Can't Just Be a Consumer
In his video on why schools don't teach you about money, Singh breaks down the economy into three roles: businesses, investors and consumers.
"Everybody's a consumer," he said, "but most people get stuck here as consumers."
According to Singh, the people who win financially are the ones who move beyond spending and start owning assets that benefit from economic growth.
Your House Isn't an Investment
Many people believe buying a home is the key to building wealth, but Singh challenges that assumption.
"Buying a house is buying a house. Many times we assume or are told or believe that if I buy a house and I pay it off, I'm going to become wealthy," he said.
Singh argues that a primary residence should be thought of differently from an income-producing asset.
"The way that I talk about it is your house that you live in is a place where you make memories," he said.
Buy Now, Pay Later (BNPL) Is Just Debt With Better Branding
Singh is especially critical of buy now, pay later (BNPL) services.
"Nowadays on DoorDash and Instacart, you can use BNPL to finance your McFlurries from McDonald's. Do not do that," he warned.
Singh explains that a lack of financial education leaves people vulnerable to products that make spending feel painless upfront but costly later.
The Tax Code Rewards People Who Make Money From Money
Another lesson Singh says schools overlook is how differently income is taxed depending on its source.
"If you earn your money as an employee, that money is called earned income. If you earn your money as an investor, it's a different category of income," he stated.
He adds that investment income often comes with lower tax rates or additional tax advantages that aren't available to wage earners.
This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.
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