Many guardians assume that students must develop financial management skills through learning journey at school. From my own perspective, I firmly believe that implementing methods and strategies to educate young people on how to deal with money is beneficial, due to many factors such as promoting society with wealthy individuals that do not suffer from poverty or tight budgets such as low wages or salaries.
One of the most significant results of developing refined financial skills is preventing financial strain by spreading awareness between students from a young age, which will expand their horizons upon various topics like manufacturing, agriculture, art and fashion. Therefore, investments among different sectors and industries will occur, leading to a better economy and low poverty levels. In addition to the benefits on the level of economy, the Ministry of labor reported that if youths learned how to invest their capital from a young age, the number of self-employed citizens is going to increase in the following decade.
Another reason is to enhance the level of self-dependency by handling minors their primary living responsibilities such as their shelter food and clothes. Therefore, it is going to reduce the load on parents when it comes to spending on their child post-graduation and during university life. A recent study conducted by Oxford University showed that individuals who were taught how to manage their money from a young age are more likely to be independent before reaching their twenties.
In conclusion, both benefits are worth considering and dedicating efforts to introduce this unique syllabus at schools. However, to approach such goals schools will require well qualified instructors that understand the financial field from every aspect to ensure that the information is delivered in the optimal way.