These days, the money management skills of graduated high school students are more concerned because a lack of this knowledge can cause financial awareness. This explanation will give various reasons for the issue and several possible solutions.
High school students have no skills in money management because of the dependence on parents financially and the school’s educational organization. First of all, the majority of students live with their parents, who have a responsibility to pay for their children’s needs before they mature officially. Thus, students are completely financially dependent on their parents and without rigorous guidance from family about managing money, this leads them to no awareness of money and savings. In addition, the fact that education lacks realistic subjects like money management. It just concentrates on traditional lectures but forgets knowledge about savings, budgeting is also crucial. Therefore, students leaving high school were not taught how to earn money or more basically save their pocket-money. However, this matter also has a way to solve.
There are reliable solutions to help tackle this situation. Starting from schools, which place students spend the most time, should add money management into the curriculum. This lesson equips them with the value of money, how to utilise the money properly and how to save budget for the future. Cooperating with the school is the support of parents. Students need to be side by side with parents in money decisions, beginning with affording food, shopping or hobbies, and besides that is valuable saving lessons. Students will spend a lot of time on this lesson, so they ought to learn day by day to achieve a successful result and be independent in their parents’ finances after graduation.
To summarise, school leavers may remain limited in managing money, but with the knowledge from these solutions, they can avoid some risk of wasting money.