abhijithajikumar Students leave high school without learning how to manage their money. What are the reasons and solutions of this issue?
It is common that students complete their schooling without learning to manage their finances. Lacking proper awareness of its relevance, both parents and schools fail to provide the required attention on financial literacy. To aid future generations not to struggle with their finances once they leave school, parents and schools must take joint measures.
Parents and schools do not accept money management as a life skill and hence, put no effort to teach the subject to their children. Moreover, parents support their children financially throughout their schooling only to learn conventional subjects ignoring a relevant subject like financial management. Schools also take up no particular interest in teaching students on money and rather choose to stay with learning and retrieving some subjects that may not be significant once they leave school. For instance, in India where many children start to prepare for many competitive examinations when they are at their high school but often ignores many life skills like managing their expenses.
How can our children be made to master this subject along with other topics at school? Rather than managing all the financials of their children, parents can assist children to set up their budget, manage expenses and save money from a young age. Furthermore, fundamentals of financial management can be made part of the syllabus for high school students to help children stay away from habits like compulsive buying and over- consumption that do not serve them. Not only does this help children to cut down their expenses but also make them stay away from any financial scams.
In conclusion, more students leave their schools with no proper education to look after their finances. This is primarily because of the parents and schools who fail to acknowledge the topic’s significance; but joint efforts can ensure concrete results.
