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 student. t 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 families like to spend so much money in some stuff,some may would like to act miserly and avoid extra expenses although they are coming from wealthy family. o,schools have to respect the diversities and their right to prepare their children for the society. providing other courses is much more rational and has better effects on children life. for example, nowdays most task are being done by computers. therefore,it is essential for each child to know how to work with one. i do believe that from mention reasons it can deduced that financial education is waste of money and some people find it interfere in their business. Positive aspects: Finance is an issue relating to all people during their lives.
Every of us has to make financial decision every day in many daily activities. As a result, there is one question that has been raised for ages: when is the right time to start teaching children to manage and use money. Some people believe that government should take financial education into school curricula, but some disagree with this idea. To begin with, parents think that if children are taught about money too early, they will be obsessed with money. That could result in valuing everything at a particular amount of money.
In addition, they may talk about money all the time at home, at school and in public places. Gradually children become money-minded ones, which negatively affects their life in the future. By contrast, beginning learning financial education from the early age helps children understand the important value of money. That leads them to use it reasonably. Money is an indispensable part in the society, but someone can become the slave of money if they can’t master it. As being taught about money, children will be instructed how to spend money in the right way as well as how to plan future expenditure well in advance.
Furthermore, thanks to money lessons, they may know how hard their parents earn a living. Because the world economy is going down now, making money is not an easy way. Thus, children who realize their parents’ difficulties might love parents more and save cash instead of using it wastefully. In conclusion, financial education has both pros and cons. However, the advantages are overweight the disadvantages. In my opinion, whether it becomes a school program or not, parents should teach their children money lessons for future positive effects.
Disadvantages The main disadvantage of economics lessons is that it might be hard to realizefinancial laws and such a type of information for teenagers. As a consequence, the academic recordmay contain a worse grade in comparison with usual subjects. Furthermore, misunderstanding of it makes impossible to use the knowledge in real life. That is why time spent for financial literacy is just empty. Advantages The same education, on the other hand, could have many advantages if taught during school days.
As it is undeniable that money plays a vital role in today’s modernized world, it is crucial that students develop their commercial knowledge from their early age. This will help them not only to understand the financial ideas but also make them confident to cope with the daily financial environment. For instance, business education in my school days helped me understand the value of money and how it works. I somewhat believe that financial education in school programs is crucial as it promotes the students’ ability to understand and implement daily business environment.
Although, financial education could be very tough and complex for school students, it can be minimized by putting basic monetary lessons and emphasizing interesting way of learning like audio and video lessons. economics is a significant part in modern life. And I suppose as earlier financial education will become obligatory point in schools as better for all. Results Moreover it should be considerate that the social effects of talking about money and finance in a socially diverse school class can be harmful for some students.
In my opinion it is more important to teach parents about their responsibilities as a role model and have them educate the children about this private topic in a safe and private environment. All in all I think the main task of public institutions should be to educate about common subjects and not to give such personal advice like the use of money. In conclusion, financial education has both pros and cons. In my opinion, the advantages are stronger than the disadvantages, making financial education an advisable component of school program.
The disadvantages should be thought of as a certain price that young people have to pay due to the characteristics of the world that we live in. . To being with, being able to understand the value of money, the way the economic system works and interpret financial news and its implications is a virtue. Without this virtue, an individual, and even a young one, might suffer, to some extent. For an example, a child who doesn’t understand the concept of money might find it more difficult to except choosing only one present out of more possible ones.
In addition, many adults are lacking financial analysis capabilities. Quite often, the reason can be a shaky basis or insecurity when it comes to financial terms and concepts. Starting from an early age, building a strong background, can very likely prevent such a situation. However, financial education necessarily involves quantifying and setting prices and value for services and goods. It can be easily turn young people into cynical and cold-hearted human beings. Furthermore, a tendency to self-concentration and egoism might rise when one start measuring everything from a profit making perspective.