The Debate (no.43); Importance of Teaching Financial Literacy in Schools

Greetings everyone.

Should schools should teach financial literacy as a mandatory subject.

Financial literacy is a tool that is significant in the present day world and it is essential that everyone has a clue on the basics in order to manage his or her affairs appropriately. This lack of financial literacy is a great danger in that it influences the lives of people through debts, poor credits and generally financial insecurity. So it can be said that for such implications teaching of financial literacy must be included in schools as a subject.

The curriculum should be done in the schools so that students get to learn how to manage their finances, when to save and when to invest and how loans and credit work so in this way, this knowledge can help the students to be able to make good decisions about their finances both in the short run as well as in the long run lets say for instance, one can explain such financial concepts as compound interest and how it can help students learn how getting into the habit of saving and investing right from their childhood can help them in future.

So for that same reason, it will also enable students to imbibe other general attributes such as critical thinking and problem solving skills as they apply those financial skills in real life situations. Such skills, in turn, can be applied when resolving other questions and not only associated with finance. Students can also let them understand the aspects of goal setting, and how to go about it in order to get the intended goals. , which may prove to be Very helpful in their everyday lives.

Source

Therefore, it will be beneficial to pass the instruction of financial literacy in schools so that students from different classes can be united and learn how to manage their finances properly so in this way by offering this kind of education in school, every student should be presented with a fair chance to be financially secure.

In conclusion to this, it can be stated that financial literacy is one of the most important skills for individuals and can influence one’s life significantly. Through presenting it as a compulsory subject in school, we are able to enable students to make correct decisions concerning their money matters, being able to set objectives & consequently regain financial stability and the necessary success. This is why the future generation needs to be taught on how they are going to manage their finances in the future.

^{Thanks for reading my post I'm inviting @josepha, @chant and @aviral123 to participate .}

Cc:
@sahmie