Why is Financial Literacy Not Required in School?

Summary

The article argues for the importance of teaching financial literacy in schools to better prepare students for practical life situations.

Abstract

The article titled "Why is Financial Literacy Not Required in School?" discusses the lack of financial education in the current school curriculum and its impact on individuals' financial well-being. The author emphasizes the importance of financial literacy in everyday life, especially in the current economic climate, where people struggle to make ends meet. They argue that the school system prioritizes subjects with no practical use in everyday living, while millions of Americans have student-loan debt and lack basic financial knowledge. The author suggests that introducing finance as a subject in schools would help students make wiser decisions, increase their wealth, and combat uncertain times. They also highlight the need for financial literacy to be a requirement for high school graduation to ensure an adequate level of comprehension of money management.

Bullet points

The article discusses the lack of financial education in schools.
The author argues that financial literacy is crucial in everyday life, especially in the current economic climate.
The school system prioritizes subjects with no practical use in everyday living.
Millions of Americans have student-loan debt and lack basic financial knowledge.
Introducing finance as a subject in schools would help students make wiser decisions and increase their wealth.
Financial literacy should be a requirement for high school graduation to ensure an adequate level of comprehension of money management.

Why is Financial Literacy Not Required in School?

Editorial Disclaimer: This article reflects the opinions and perspectives of the author. It does not represent the publication’s point of view. Illumination keeps a neutral perspective on this topic to allow diverse voices. NJ Curriculum mandates this curriculum. One may be confused as it goes under many curriculum standards such as Careers, Culture, Finance Business, etc…

Money, money, money… It’s always on our minds as we can’t seem to get enough of it. We constantly search for different ways to either save more money or grow one’s money.

Some people might have been fortunate enough to be raised in an environment that taught them the value of money. While that wasn’t my upbringing, I learned about finance through personal experiences, reading books, reading A LOT of online articles, and watching YouTube videos and documentaries.

Unfortunately, in this current economic climate, people are struggling to make ends meet, inflation is at an all-time high, and everyone seems to be losing their minds.

One finds themselves spending significantly more money, for the same services and items they have purchased before. During these uncertain times, we are reminded how crucial it is to have a firm grasp on your financial health.

This is a reason why we participate in this game of life anyways: we strive to work a job that provides adequate compensation, so that we may live comfortably and have time for enjoyment. Being taught about financial principles at a young age gives an individual a better chance to increase their wealth moving forward.

The problem is that the school system seems to prioritize subjects that have no practical use in everyday living. Millions of Americans have student-loan debt, and the sad truth is, that many of them will probably keep paying them off until the day they DIE. Imagine every single student in high school who learned how to file taxes, budget, invest, and overall make smart financial decisions. Sadly, some people capitalize on the ignorance of others; therefore, you’re getting screwed, and you may not know it!

I can’t think of how many times I have been in class and wondered to myself, “How is this going to assist me in my life?” On the contrary, finance is one of the most practical subjects one can learn as it has everyday usage, it teaches you to make wiser decisions, and as the famous saying goes, “Money makes the world go round.” Many students grow up without having any sort of financial literacy, and it ends up biting them in the ass when they go through life.

Life is already a challenge as it is, without the struggle of managing your funds. Schools ought to introduce the subject of finance to students while they’re young because once they become adults, the expenses will start piling up. With everything much more expensive now, it’s more important than ever to be educated on personal finance, the economy, investing, and increasing one’s net worth to combat these uncertain times we are facing.

Money does matter because without it, you’re limited in your options, and you may feel trapped in the predicament you find yourself in. I cannot think of a single person that does not aspire to obtain financial security or at least have peace of mind concerning their financial health.

The world is always changing, yet the basics of finance have withstood the tests of time. The educational system needs to find a way to implement financial literacy into the curriculum so that students establish a foundation of knowledge regarding the matter. Too many individuals are clueless or have a lack of understanding when it comes to the world of finance, and this is never a good sign.

Educating students about finance while they are young gives them an advantage in future life transactions and decisions. While it’s not a requirement in the school syllabus to learn finance, it may benefit society if passing a financial class becomes a necessity to graduate high school. This ensures that there is an adequate level of comprehension of the management of money, which is something everybody must have the ability to do.

Disclaimer: This article contained a topic concerning people living in the United States. I cannot personally speak for other countries regarding this topic due to the differences in the level of education.

Why is Financial Literacy Not Required in School?

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