Nowadays, some students leave their schools without having a knowledge about how to manage their money. This situation creates several problems such as financial difficulty and increases the risk of fraud but there are also some effective measures like as money management should be a compulsory subject in their course of study and society should organize seminars related to importance of money.
One of the major problems caused by this trend is that it increases the poverty rate. It is because learning phase of any child plays vital role in his rest of life. He prefers to do those thing which he learned in their childhood. If he did not know how to utilize his money then he would face some financial issues throughout his life. For example, I have a cousion who left the school in 9th grade. Moreover, he had not learned about importance of money from anyone. Whenever, his parents gave him pocket money, he just spent it on unecessery items. At the age of 17, he started business of selling smartphone but he developed a habit of spending money on worthless things. Consequently, his business diminished with in few months. Now, he is runing through very critical financial condition. Another serious issue is that they can easily vicitimized fruadsters because they can easily give their money to anyone without knowing much about him.
To solve these problems schools should introduce a new compulsory subject in academic course of every child in which students learn about financial management. Furthermore, goverment and society should organize seminars in which they guide them about importance of money. If they know about importance of money then they will manage it well.
To conclude, students without having any financial knowledge creates several issues like financial shortage and vulnerable to fruadsters. However, these issues can be addressed by educating childerns.