Against the backdrop of rapid globalization and widening income inequality, there is a growing tendency for students to leave high school without having enough knowledge about how to manage their money thereby facing financial difficulties. While there are many reasons to this trend, I firmly believe that there are some solutions to this problem.
Leaving high school without having enough knowledge about managing their money can be attributed to recent developments. Education is seen as a path to better jobs, preparation for higher education coupled with prioritizing academic subjects by government have created an environment where focus on only academic subjects, thus financial education is not included in many schools. Given these circumstances, it comes as no surprise that students don’t have enough knowledge about directing their money as a careful way, thereby facing financial difficulties. A good case in point is Uzbekistan, where many school schedules organized only to academic subjects.
To address these challenges, many school curriculars should be redesigned by responsible bodies in government and must be introduced many financial literacy. As a consequence, this will helps students to understand importance of taking care of these resources. Secondly, non-profit organizations must carry out workshops and seminars in colleges and schools. For instance, in South Africa, several schools applied a financial literacy program where students learned to create personal budgets and plan their expenses.
In conclusion, although there are many reasons to this trend such a focusing on academic subjects, there are some solutions to this shift like applying seminars and lectures about managing money.