It is believed that money management should me taught children in school which has has numerous pros and cons. In my opinion, the benefits of this learning outweigh the negative effects because it opens the door of understanding finanancial importance in personal and professional life.
To begin with, financial management is considered as one of the importance skills that assist a person to plan and invest assets effectively and wisely. Without having this knowledge, people misuse their valuable money which eventually leads them in great misery. So, understanding the importance of these skills, many schools are thinking to teach students the money management so that they can implement these strategies in order to be cost effective in their life. Therefore, in research findings, it has been seen that people who possesses financial skills are more likely to be successful in professional and personal life as they know how to invest their income in better source to get maximum return. However, those who income a high amount but cannot assess the risk and return of investment, ends up with lossing money as they waste their money in risky project which has no return. As a result, they come up with no return but huge loss. Futhermore, budgeting helps a student to track their spending with budget. So, they do not face scarcity of money and lead a smooth life without investing in unnecessary things.
In contrast, schools are already occupied with different kinds of learning for the students. Therefore, adding a new subject creates difficulty for the teachers to allocate time. Besides that, many believe that teachers should focus on important subjects like math,physics, english etc to get better understanding and expertise in these fields. Moreover, a new subject can create study pressure for students as they have to consume for knowledge and information. As a result, children can loss interest to learn this subject and feel overwhelmed by too much content.
To sum up, inspite of having problem in time allocation and study pressure, teachers should teach financial management so that students become more efficient and successful while spending money.