Nowadays,mostly young individuals which cannot provide right way in their expenses after finishing high school have raised concerns due to the significant impact on financial implications including national problems regarding the numerous household debt.
One contributing factor is there has no the specific financial management subject in educational level that can serve a beneficial purpose on the youngsters.Following this,when students start working on their career that have been imposed on taxes on incomes,may cannot afford this considering their lack of knowledge.For instance,the governments levy taxes on citizens income once a year but many freshmen cannot pay due to less money saving.Furthermore,today there have been the higher percentage on the household debts,this is partly because the preferences on “You only live once” attitude which has the opinion about people can do whatever they want because you live only one life regardless the living in the boring life.Therefore,the number of young ages consumption on leisures are constantly escalating yet their income remains.Despite the recognized that the number of Gross domestic income has increased,it is worth noting that these drawbacks adversely lead to national households debt which may serve as a deterrent on national development and a proliferation on poverty,inequality,insecurity and negative social conditions.
Nevertheless,there are many implements to mitigate the effects on the lack of money management skills.To begin,the encouragement to raise young people awareness through educational programs particularly on social media platforms can substantially improve the knowledge considering the level of individuals spending on screens over 5 hours a day.Meanwhile,school subjects also play a crucial role in developing the skills because students might contribute better outcomes than online programs.
In conclusion,the lack of ability in graduated students to engage with financial management according the academic system that cannot provide the knowledge including the teenager opinion on living life can be attributed by the encouraging awareness through educational programs such as social media and onsite learning from school subjects.