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Money management skills should be taught at schools

family doing grocery shopping
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Some people say that all secondary and higher secondary school students should be taught how to manage money as it is an important life skill.

Do you agree or disagree with this argument?

Schools are designed to teach and prepare children for the future, exposing children in subjects such as reading, math, science and more. But financial literacy topic is not commonly taught in many schools. I completely agree with this opinion and think that money management should be included in higher education curriculum.

At present, the key educational goal is to educate students to become highly paid professionals or as workers with higher levels of skills. This allows businesses to have a large pool of potentially qualified candidates to enter the workforce. However, students deserves more skills like financial management to equipped them to escape the rat race. A person with lack of practical money management skills has a high potential to suffer from financial stresses in life. In contrast, an individual or families with better understanding about financial management can effectively manage debt thus secure a future filled with financial success.

In addition, acquiring financial education early in their cognitive development will help young people to stay in control of their budget and to draw a line towards financial goals in life. Financial literacy will make a person aware of the basic problem, problem with spending too much on wants than needs.  Gaining such literacy in school will help students understand how interest rates work, the difference between stock and bonds and to avoid accumulating bad debt that always leaves individuals at a disadvantage. These knowledge will encourage young people to save money, avoid unnecessary expenses and empower them to be stewards of their own financial futures.

In summary, early education allows students to learn the importance of  earning, investing and developing a healthy relationship with money which leads to becoming a financially responsible adult.

Vocabulary

  • Teach – past tense (taught) – to impart knowledge or skill.
  • Curriculum – the courses that are taught by a school, college, etc.
  • Stress – a feeling of emotional or physical tension.
  • Cognitive – refers to the ability of the brain to think and reason as opposed to feel.
  • Aware – having knowledge or perception of a situation or fact.
  • Accumulate – present participle (Accumulating) – to collect a large number of things over a long period of time.
  • Empower – give (someone) the authority or power to do something.
  • Steward – a person who manages another’s property or financial affairs;
  • Debt – a sum of money that is owed or due.

Rating from http://www.writingbands.com

Overall Score: 8
Vocabulary Score out of 2: 2
Sentence Score out of 3: 2.8
Structure Score out of 1: 0.8
Content Score out of 3: 2.4

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