Education is considered an important aspect in overall development of the child, and teaching subjects which will have impact on their daily lives after school would be beneficial to both children and society as a whole, so some people are of the view that imparting financial education to children should be made compulsory part of the school ciriculumne. This essay agrees to the above statement, teaching finance to the children at the early level will have its own advantages firstly, it will see how having the knowledge of money from the beginning would help child to value money, secondly it will focus on how it will this learning would help them inculcate habit of saving.
Managing finance is crucial for both the individual and the economy as a whole, if the child has been taught in his young age how to budget, he/she would learn to value money and wont spent on lavishly on the unwanted and unworthy stuff. For e. g. in the recent survey conducted in the Britain children from 9 to 15 years of age were observed and it was stated that 69% of children who were taught to handle their money independently in the form of pocket money and were given limited money, turned up to value money in their adulthood and were in less debt.
Furthermore, teaching finance in school to children, will help them inculcate the habit of saving, which is an important aspect in day to day life of individual, otherwise if one does not have saving habit then they would be in great debt and in turn would take that money in the form of loan and credit facilities form bank which will have high risk of repayment looking to their budgeting habit, this will lead to viscous circle as the economy depends upon its citizens purchasing power to generate revenue and his would in turn render both economy and individual indebted. For e. g. I n the recent report published by the focus magazine, it was stated that saving habit of people affect the functioning of the economy also to an extent and countries where finance was taught to youngster were more managed and had high living standard as compared to countries where managing money was not taught.
To conclude, having knowledge of finance is essential for children from their early childhood and it would help them value money and would encourage saving habit among them which would be beneficial in their future vulnerable condition. In my opinion imparting knowledge regarding money and budgeting is very crucial since early age as it will lead to healthy economy free of debt.
Education
is considered
an
important
aspect in
overall
development of the child, and teaching subjects which will have impact on their daily
lives
after school would be beneficial to both
children
and society as a whole,
so
some
people
are of the view that imparting financial education to
children
should
be made
compulsory part of the school
ciriculumne
. This essay
agrees
to the above statement, teaching
finance
to the
children
at the early level will have its
own
advantages
firstly
, it will
see
how having the knowledge of
money
from the beginning would
help
child to
value
money
,
secondly
it will focus on how it will this learning would
help
them inculcate
habit
of saving.
Managing
finance
is crucial for both the individual and the
economy
as a whole, if the child has
been taught
in his young age how to budget, he/she would learn to
value
money
and
wont
spent on
lavishly
on the unwanted and unworthy stuff. For
e. g.
in the recent survey conducted in the Britain
children
from 9 to 15 years of age
were observed
and it
was stated
that 69% of
children
who
were taught
to handle their
money
independently
in the form of pocket
money
and were
given
limited
money
, turned up to
value
money
in their adulthood and were in less debt.
Furthermore
, teaching
finance
in school to
children
, will
help
them inculcate the
habit
of
saving
, which is an
important
aspect in day to day life of individual,
otherwise
if one does not have
saving
habit
then they would be in great debt and in turn would take that
money
in the form of loan and credit facilities form bank which will have high
risk
of repayment looking to their budgeting
habit
, this will lead to viscous circle as the
economy
depends upon its citizens purchasing power to generate revenue and his would in turn render both
economy
and individual indebted. For
e. g.
I n the recent report published by the focus magazine, it
was stated
that
saving
habit
of
people
affect the functioning of the
economy
also
to an extent and countries where
finance
was taught
to youngster were more managed and had high living standard as compared to countries where managing
money
was not taught.
To conclude
, having knowledge of
finance
is essential for
children
from their early childhood and it would
help
them
value
money
and would encourage
saving
habit
among them which would be beneficial in their future vulnerable condition. In my opinion imparting knowledge regarding
money
and budgeting is
very
crucial since early age as it will lead to healthy
economy
free of debt.