Very few school children learn about the value of money and how to look after it, yet this is a critical life skill that should be taught as a part of school curriculum.
Do you agree or disagree?
It is important for our school administrators to consider the requirement of financial literacy in our high school students. These topics seldom form a part of current school curriculum, however, I believe that much more emphasis should be given to these wealth related topics.
To begin with, educational institutions should focus on the need and value of money. This is because these institutions often neglect to teach the importance of wealth and degrade it as a lower skill. For example, it is often taught that earning wealth is secondary to other qualities such as honesty, team spirit and helping others in need. But one should remember that they would not be able to help anyone unless they are financially secure and independent. Therefore, earning enough money is critical for one’s survival and its importance must form a part of the school curriculum along with other qualities and skills.
Moving towards the topic of looking after money, there is an urgent need to educate children in virtues of financial investing and savings. The reason for this is that many graduating students do not have even basic knowledge about financial instruments. For instance, a recent survey found that about majority of the high school graduates did not know about different wealth increasing mechanisms such as equity, bonds, securities and debt. Due to this, it is often seen that these children often become a target of various ponzi schemes and end up losing their own hard earned incomes. It is therefore essential that these important topics are covered in depth as part of the school syllabus.
In conclusion, earning money is an essential component of our adult life and its significance should be emphasized to our future citizens during their education. In addition to this, schools should also teach about various legal and illegal financial schemes so that the children know how to invest their future incomes without falling for various illegal instruments that can harm their wealth.