There is a common problem among high school graduates these days where students are leaving school without any knowledge or skill in personal money management. This essay will outline a number of reasons for this trend and a number of possible solutions to help tackle the issue.
Firstly, one of the main causes of this problem is that the majority of high school students live with their parents and are completely financially dependent upon them. Most students do not need to work to earn money while at high school, as their parents pay for all their needs, and therefore do not gain any understanding about the realities of earning and saving money. Usually, the only money that students receive is from their parents and this is typically in the form of pocket-money, which is given with the intent of it being spent. Therefore, young people only really learn how to spend money, and not how to earn, save or manage it wisely.
However, there are a number of viable solutions to help students deal with this problem. Firstly, basic money management skills could be included as a compulsory subject for students in their high school years, which would help equip them with the knowledge and skills to manage their own personal finances when they leave school, move out of home and enter employment. The second possible step that could be taken to help curb this problem is through education at home. Parents need to take responsibility to make sure that their children are adequately educated in such matters to ensure their children maintain a successful and independent financial situation after graduating and leaving home.
In conclusion, although money management is a problem for a lot of school leavers, there are a number of viable solutions to counteract this problem.
There is a common
problem
among
high
school
graduates these
days where
students
are leaving
school
without any knowledge or
skill
in personal
money
management. This essay will outline a
number
of reasons for this trend and a
number
of possible solutions to
help
tackle the issue.
Firstly
, one of the main causes of this
problem
is that the majority of
high
school
students
live
with their
parents
and are completely
financially
dependent upon them. Most
students
do not need to work to earn
money
while at
high
school
, as their
parents
pay for all their needs, and
therefore
do not gain any understanding about the realities of earning and saving
money
.
Usually
, the
only
money
that
students
receive is from their
parents
and this is
typically
in the form of pocket-money, which is
given
with the intent of it
being spent
.
Therefore
, young
people
only
really
learn how to spend
money
, and not how to earn, save or manage it
wisely
.
However
, there are a
number
of viable solutions to
help
students
deal with this
problem
.
Firstly
, basic
money
management
skills
could
be included
as a compulsory subject for
students
in their
high
school
years, which would
help
equip them with the knowledge and
skills
to manage their
own
personal finances when they
leave
school
,
move
out of home and enter employment. The second possible step that could
be taken
to
help
curb this
problem
is through education at home.
Parents
need to take responsibility to
make
sure that their children are
adequately
educated in such matters to ensure their children maintain a successful and independent financial situation after graduating and leaving home.
In conclusion
, although
money
management is a
problem
for
a lot of
school leavers
, there are a
number
of viable solutions to counteract this
problem
.