Nowadays, even after completing the secondary education, students are not aware about the facet of managing the financial resource. The aforementioned is mainly because of the conventional study paradigms as well as the lack of importance.
one of the predominant causative factors that has led to the problem is the tutor’s concentration upon theoretical knowledge, as educators tendency is more ingrained towards finishing the prescribed syllabus in verbal or written manner rather than indulging the students in any co-curricular activities. For example, countries like India or Pakistan are still not modified and induce to teach with in class traditional methods. As a consequence, the mindset of children are never diversified towards financial attributes because of education burden. Not only this ,but also pupil’s dependency on their progenitors adds on the predicament. This is because , whether its earning money or buying any stuff everything is mainly done by the parents, which leaves the adolescents with no possession of money and therefore, they lag in considering the imperatives of managing it.
One way to tackle this issue is providing of exposure to learners, while they are in institution. By doing this, students will learn how to tackle with finance in way of purchasing and countering their own estimated price for the specific product. For instance, a report in BBC newspaper divulged that the money management skills of students who go for a solo trip are proficient than others. another worthwhile step to counter this menace is ameliorations in syllabus. to expound, educational boards like ICSE,PSEB,CBSE must revolutionize the curriculum by including main subjects related to finance management as well as money measurement.
In conclusion, serving practical exposure and revolution in syllabus will be effective on dealing with this issue. If these solutions will be implemented, the phenomenon would soon suppress.
