Nowadays, high school graduates lack the necessary money management skills. This essay will look at some primary causes of this and suggest some possible solutions to the problems.
There are a number of reasons for the high school graduates’ lack of money management skills. The first reason is the vast majority of high school students live with their parents and totally depend on their parents’ financial support. This would mean that they do not need to work in order to make money while at high school, since their parents pay for any their needs. As a consequence, students seem to be devoid of understanding in saving and making money. Another reason is most high schools do not offer comprehensive financial education as part of their curriculum. As a result, students do not have the opportunity to learn how to manage their money effectively.
There are several actions that could be taken to mitigate the problem mentioned above. Firstly, it is significantly crucial for parents to control the amount of money given to their children so that they cannot waste money on unnecessary things. Parents should also educate them about the importance of managing money when they are young. Finally, high schools need to teach students how to save and manage money as a compulsory subject. Leaving school with all basic management skills, they can become financially independent.
In conclusion, there are various factors leading to high school students’ lack of knowledge of budget management and measures can be implemented to tackle this issue.