In the contemporary days, there is a growing phenomenon that high schoolers graduate without money management skill. This essay will determine the root causes and propose practical solutions.
On the one hand, there are some major reasons that explain why young people lack of money management skill. The first cause is that young people nowadays tend to depend on their parents dramatically, and they just ask for money supply whenever they are out of budget, which can possibly form a bad habit of spending money without considering managing it. For example, Vietnamese children get big bills from their parents, spend it immediately and keep asking for more money, which creates a process of burning money out of control. Secondly, institutions do not have a proportionate schedule between scientific subjects and financial curriculum, in which the former is much more concentrated on than the latter one. As a result, young people leave school without knowing of importance of organizing their budget
On the other hand, the problem can be rectified thanks to a number of solutions. One of the most striking measures is that parents should limit their children’s budget in the way of giving them money periodically like an adult. For example, some families in Vietnam provide their children money monthly at a very young age to teach them how to spend it properly . Another primary solution is that schools should organize some extracurricular lessons about finance. In that way, young people can both gain knowledge of scientific and social fields.
In conclusion, while the reasons of this problem can vary, those can still be coped effectively thanks to the contribution of family and institution.