The following originally aired on KQED-FM.

By: Maya Cueva

This Sunday I am heading to Europe with four of my best friends. In order to make sure we see and do everything under the Tuscan sun, we have to carefully budget the whole trip. And while in school, my friends and I have taken language courses to prepare, I’ve been thinking that a lesson on how to handle our cash may have been more useful.

In high school, I took an Economics class for a semester and can now recite the concept of supply and demand, how to calculate GDP, and how to maximize opportunity cost. But in that class we spent only two days learning about matters of personal finance, like what counts as a liquid asset and how people often run into debt. The California State Frameworks didn’t leave much room for teaching about personal and household budgeting, which is why my teacher couldn’t go into much depth.

The U.S economy finally grew in the third quarter of this year, the Commerce Department said on Thursday. U.S. gross domestic product grew at a 3.5 percent annual rate from July through September. This marks the first quarterly gains since March 2008.

The White House and economists cautioned that the gains were fragile.

"Since the federal stimulus reached its maximum effect in the third quarter and the unemployment rate remains high, there's uncertainty over the sustainability of the recovery," according to the Wall Street Journal.

Much of the gains come from increased consumer spending, spurred by federal rebate programs—such as Cash for Clunkers and a tax credit for first-time hombuyers. However, these programs have, or nearly have expired, so it remains to be seen if the GDP rise will continue.

(via The Wall Street Journal)

Previously:

• Junking the Clunk
• Underage Homeowner
• Dead End Economy