Many argue that basic financial knowledge should be included in education programmes at schools. I absolutely agree with this approach as it prepares children for adulthood and teaches essential skills such as setting aside funds, needed for a bright future.
From my standpoint, teaching financial knowledge from childhood influences one’s decisions later in life and builds a strong foundation for adult-life. Knowing how to correctly manage their pocket money will provide a sense of independence and financial maturity in a child. For instance, a child that bought a bicycle from his own savings will feel a sense of freedom and maturity. This approach not only ensures that the child will learn to save in order to afford their desires but also teaches them financial stability.
There is no denying that many adults struggle with card debt and poor saving habits due to lack of early education. To mitigate this issue children should develop essential habits and skills from school and grow their portfolio for better employment later in life. For instance, in countries like China, the government included financial management in their school curricula, leading to a decrease in household debt and an increase in citizen retirement rates. Therefore I prefer this approach over others and think that it is more beneficial in the long-run.
In conclusion, financial education should be integrated into curricula in schools to avoid possible issues like poor budgeting and financial instability in adulthood.