Nowadays, students gradute highschool without knowing how to manage and use their money efficiently. I belive this trend results from many reasons and this essay will shed light on these and the solutions to this problem.
There are many reasons why students still cannot manage their money after high school. One of them is that the educational system and schools may not prioritize the significance of soft skills, especially how students could manage their money. The education system and teachers solely focus on maths, literature or physics because they think it helps the student more in the academic results. For instance, high school students in Vietnam only study maths, literature or physics, which called “main subjects”. They have to prioritize these subjects if they want to pass and get high score in the university entrance exam. As a result, they do not have time to study other life skills, not to mention money manangement skill. Another reason is that some students are under the control of strict parents, so they do not have many chances to keep money by themselves. They can only get money from their parents when they have resonable reasons or when they have to buy things. As a consequence, they cannot form the habits related to money, such as how to spend money efficiently or how to save money.
However, this issue can be solved by several solutions. One of the potential solutions is that the educational system should create lessons for students to learn about the economy, money and attribute it to the students’ schdule. These lessons should be attributed properly so that the students are not under pressure. For example, from 2022, the high school students in Vietnam started having the subject called “Economic education”. During the lessons of this subject, students learn about the economy, money and how to manage money properly. This subject is taught as a main subject and its significance is seen as important as maths or literature. As a result, the students have to learn properly and they can acknowledge how to use money efficiently. Another solution is that parents can give their children small amount money and encourage them to use this money correctly, but under the controll of parents. This can help students form the money management skill, but the parents can still controll the intention of their children when they want to buy something. Consequently, the children may know how to use and manage their money in a suitable way.
To sum up, there are severals reasons why students still cannot manage their money after leaving high schools, but the potentials ones are from educational systems and parents. I believe that this problem can be solved by the changes of not only students but also educators, who are schools and parents.