Financial management is crucial for career and life. In recent years, more common problem among high school graduates is without knowing the financial management. This is making them irresponsible consumers. While some courses are certain to arise this trend, a number of steps can be done taken to deal with them.
The main issue is perhaps the lack of practical skills related to financial literacy in school. Most schools do not prioritize financial education in the school curriculum and they do not emphasize the financial education as science subjects. Moreover, the schools may not teach the students how to invest, save, or even understand basic things related to financial concepts. The lack of financial guidance can be another contributing factor. Most of the high school graduates live with their parents and they are financially dependent on them . Nowadays, many parents usually cannot teach their children how to manage their budget due to long working hours. Nowadays, most family providers work longer hours in their workplace to provide their family with money and make their ends meet. As a consequence of this, the students do not know how to manage their budget.
Nevertheless, several effective steps can be taken to tackle these problems. First and foremost, schools should add the financial literacy initiatives into their school curriculum and through organizing some kind of extra classes. Another workable solution could be parents should set aside time to teach their children budgeting skills. On the parents day off, parents try to set aside time to involve their children in financial planning activities such as how to create a family budget and discussions of their daily expenses. It could help them how to manage their finance effectively and lead them to understand the value of money.
In conclusion, lack of financial management classes and limited parental guidance might be a major contributing factor to the lack of financial knowledge of the graduates. However, through adopting some kind of work, namely extracurricular activities related to finance and parental guidance, students may graduate high school understanding how to manage their finances effectively.