The debate about whether teaching financial literacy should be compulsory for school students is a widely debated topic. While providing pupils with highly qualified teachers in this area can pose certain challenges, I personally view it as mostly advantageous, providing valuable knowledge on how to spend money wisely and how to make revenue.
One concerning issue related to educating youngsters in the finance field is a lack of competent mentors. Schools have a shortage of money to employ trainers who are aware of financial literacy. Entrepreneurs or businesspeople who could train learners are surrounded by their hectic schedule and have no time to teach. Even if they did have time, schools, due to their financial constraints, cannot afford to hire them; as a result, some educational centers are hiring incompetent teachers to train. Thus, students have no background in how money works. In this case, it is better to give students the opportunity to learn other majors with skilled tutors. It is highly recommended that the government allocate more funds for tutoring pupils. So that certified coaches would teach financial literacy, instead of those who do not have any relevant familiarity.
However, despite these drawbacks, I firmly believe that financial literacy is crucial for students’ futures. When pupils have an opportunity to develop and deepen their knowledge, they have a valid foundation for their future lives and awareness of how to make and utilize their money properly and wisely. Compared to those who were taught about money management skills since childhood, they are more likely to become successful business owners than those who learned it later in their 30s. The perfect example is one of the best innovators, Elon Musk, who excelled in the money-making industry—business—because he was well-educated since his childhood in making revenue.
In conclusion, we should not mandate the teaching of financial literacy, given that schools often lack the funds to hire top-tier coaches. But I personally think that the government needs to invest more money in the qualitative education of pupils so that in the future they will not struggle in the finance area.