People have different views about whether teaching financial literacy is the responsibility of parents while others argue that schools should teach money management from an early age. From my perspective, there are critical arguments for both sides and i believe that learning financial knowledge from parental upbringing is a more viable option.
On the one hand, schools play a crucial role in teaching financial lessons. Firstly, they do not need replace other traditional subjects, but they should integrate financial curriculums in the beginning of lessons. These curriculums can help to build strong resilience and a sense of entitlement in terms of money problems. As a result, the odds of struggling with financial instability can be decreased in an upcoming adult life. Secondly, studies also shown that many successful universities associated with economics and also financial management. Finally, if schools teach money management, it can be beneficial for student’s future profession.
On the other hand, they contend, teaching financial management is the main duties of parents. Parents play a key role in teaching money management and it can positive affect for children. Financial management helps young people learn how to save, spend, and plan their money. For example, many parents give allowance for their children in daily life and children should know how to manage it. If, in contrast, parents do not give guidance for their children in terms of allowance, children may spend more money for unnecessities. As a result, youngsters encounter more failure, debt, and aggression due to financial illiteracy.
In my view, financial knowledge makes young people independent and allows them to make decision independently and it is essential for giving guidance for children. Although, whether schools integrate lessons on schedule, many adults obeys his parents effectively.
In conclusion, teaching money management in schools can positively affect for children, but such thing is the main duty of parents. I believe that learning financial education from parents is more viable option.