Wednesday, December 8, 2010

Another practical reason to master your math skills

Every math educator has been asked at some point the following question by at least one of their students: "When I will use this?!?" This question is often difficult to answer because the usefulness of mathematics is a personal matter. Though mathematics is involved in every aspect of our lives, the degree level on how we use mathematics depends on the type of job we do or what tasks or goals we are trying to accomplish. For example, I constantly use mathematics in my career as a math educator, not only in teaching but also in my decision making when designing learning activities.



However, here is an interesting article that can be used as a general answer to the most frequent asked question from math students: to attain a sustainable lifestyle. I encourage you to read the article to gain awareness on how math is essential to increase our chances to live a comfortable lifestyle, a goal shared by most of us. Enjoy the reading!

Amplify’d from www.azcentral.com

Basic math is key to wealth accumulation

It seems people who can handle basic math problems tend to accumulate more wealth than the numerically challenged.

A recent study found that couples who score well on a simple test of "numeracy" - the ability to reason with mathematical concepts - have attained greater wealth, with more money invested in the stock market.

He cited skills such as an ability to multiply, divide and compute percentages, plus a familiarity with interest rates, compounding and present vs. future value.

The study also found that when a less math-proficient spouse is the main financial decision maker, household wealth tends to be lower. Men, incidentally, assume this role more than women, at least within those 50 and older.

Numerical ability appears to be more critical for wealth accumulation than other cognitive skills such as having a good memory.

As noted, the study showed that people who are more comfortable with numbers accumulate more wealth and own more stock investments. In this regard, Smith cited another useful literacy skill: the ability to recognize that the danger of losing money in the stock market lessens over time.

Read more at www.azcentral.com
 

1 comment:

Ben Graber said...

That's a good one to give students. I'll be keeping that article to use later!