Financial Literacy Should Be Taught in High School

593 Words3 Pages
In society many would think that teaching financial literacy in high school is not a good idea because the students already have many things to worry about. They think that teaching financial literacy would just add on to the load. They also assume that financial literacy skills are just common sense. Whereas some people also believe that teaching financial literacy is an excellent idea because it will help the students manage their future finances well. It will help them understand the basics of financial planning as it is not common sense. This is true. Therefore financial literacy should be taught in high school because many students do not know enough about finances, which is why they tend to get into debt later in their life. Because of their lack of knowledge about finances they cannot save or plan their future retirement and they also tend to get in to money frauds and identity theft. Firstly, many students and adults do not know enough about managing their finances which is why they tend to get in to debt. If financial literacy is taught in high then they will not have problem managing their finances because they will have that knowledge. According to the studies almost eighty percent of the people in dept are in dept because they do not make a financial plan as they were never taught to. These people lack the financial literacy skills. This is why teaching financial literacy in high school will benefit the students later in their life. Secondly, the people who lack the financial literacy skills do not tend to save or plan for their future retirement. This is because they do not know how to make a financial plan, so they cannot plan their retirement and they have to depend on government pension because they are not self-reliant. Because of the lack of knowledge they do not save money and even if they save they do not know how to invest the money wisely. So
Open Document