Should Finance Education Be Mandatory Component of School Program

Topics: Education, School, Teacher Pages: 5 (1614 words) Published: May 14, 2013
Financial education should be mandatory component of the school program. To what extent do you agree or disagree with this statement?

Outline. In many countries the discussion about the rising financial problems of young people has been getting more emphasis. Tough some people are voting to integrate financial education as a schooling subject. It is an obvious fact that financial aspects are a major part of daily life, as an adult and even as a young individual. Each and every one of us has to make financial decisions concerning recreation, health, education and more. The question is whether to start with financial education as part of school program or postpone it for a later stage in life. The key problem for many young people is that they don’t know how to use and spend money in the right way. The “get what you want mentality” is widely advertised by the mass media and it looks like some people think that living with interest fees is normal. Though financial problems in young life are very common with the result that it is difficult to learn how to spend money appropriated. The main idea of teaching a financial subject must be to explain about a balanced budget and that debt could ruins one’s future. importance of financial knowledge:

Making good financial choices is vital as it has major implications for all aspects of out life. Our success in private and work life can be highly dependent on finding viable financial solutions. From saving for college to retirement or choosing the right mortgage or insurance the consequences of a bad decision can be disastrously and long-lasting. Therefore, we must aim to make informed and well-planned decisions.

Unfortunately, publicly available information on handling money can be of low quality or biased. When it comes to investing money we can not rely on parents always being good role models for their children. They may have never been trained in the subjects and struggle with it themselves. Moreover, a lot of the information in the media and advertisement is influenced by the interests of banks or insurance companies. Even if bank staff recommends an investment it may be risky and inefficient. It is therefore essential to enable people to make sound decisions independently.

However, the subject of finance can be complex. It does involve knowledge of mathematics, statistics and law in most cases. Then there are the more practical aspects and pitfalls that rather require common since and experience. While schools already teach academic subjects like mathematics and laws believe it is critical to show student how to combine and apply them to everyday problems. Also, there is an abundance of different financial products. Being able to categorize them and estimate risks can be helpful but requires some training.

For all these reasons, financial education would be a valuable addition to the school curriculum in my opinion. If people are more educated on the subject they can spot fraud and bad advise on investments more easily. Schools already teach many of the fundamental skills for handling money but they also need to educate students on the more practical aspects and contexts.

Why not teach financial education?:

schools are interfering in their life it is obvious that each course needs it is specific books and tutor. It is, therefore,the responsibility of government to set a side a extra budget for the supply of this courses and train some teachers in order to guide the books for the is getting worse when in some countries such as mine the tuition fee is low and the government is responsible to provide facilities to schools and in the result government may face lack of budget for such meaningless courses. Another reason to fortify my opinion is that parents find it intrusive that today schools and governments trying to teach their children how to live and how to manage their money.for instance,the way of living in each family is different,While some...
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