Money Management is one of the most important skills that everyone and especially teenagers should be aware of as early as possible. A skill which is neglected by almost all schools is proving detrimental in the person's life as well as for government on a long run.
Firstly, aging is a bitter truth of life. The period of youth is shorter and eventually will end. Studies have shown that the people who do not invest at the right time of age will suffer in the later years. For example, 100$ invested at age of 25 years will become 1000$ at age of 60 that can be used towards the retirement period.
Moreover, poor spending habits are extra add-on that is a direct result of not learning this particular skill at school. The plastic money like credit cards have given the opportunity to people to buy everything they like for instant gratification and then repent later in terms of paying back the debts. Surprisingly, the age when people could afford home has been moved by 5 years from the baseline of 25 years during 1990.
Also, it is beneficial for the government to introduce this subject in the school curriculum. The students who will learn these skills tends to be less burden on the government in the later years of their life. For instance, they will plan their retirement life more promptly while they are still young more diligently and efficiently.
To conclude, the money management skills is not a rocket science to understand. Guidance should be provided on how they should spend their money and how to manage it on their own because time is of critical essence. Thus, I strongly believe that these skills should be developed as soon as possible ideally during school time.
Money
Management is one of the most
important
skills
that everyone and
especially
teenagers
should be aware of as early as possible. A
skill
which
is neglected
by almost all
schools
is proving detrimental in the person's
life
as well
as for
government
on a long run.
Firstly
, aging is a bitter truth of
life
. The period of youth is shorter and
eventually
will
end
. Studies have shown that the
people
who do not invest at the right time of
age
will suffer in the later years.
For example
,
100$
invested at
age
of 25 years will become
1000$
at
age
of 60 that can be
used
towards the retirement period.
Moreover
, poor spending habits are extra
add
-on
that is
a direct result of not learning this particular
skill
at
school
. The plastic
money
like credit cards have
given
the opportunity to
people
to
buy
everything they like for instant gratification and then repent later in terms of paying back the debts.
Surprisingly
, the
age
when
people
could afford home has been
moved
by 5 years from the baseline of 25 years during 1990.
Also
, it is beneficial for the
government
to introduce this subject in the
school
curriculum. The students who will learn these
skills
tends to be less burden on the
government
in the later years of their
life
.
For instance
, they will plan their retirement
life
more
promptly
while they are
still
young more
diligently
and
efficiently
.
To conclude
, the
money
management
skills
is not a rocket science to understand. Guidance should
be provided
on how they should spend their
money
and how to manage it on their
own
because
time is of critical essence.
Thus
, I
strongly
believe that these
skills
should
be developed
as
soon
as possible
ideally
during
school
time.