TODAY'S SCHOOLS SHOULD TEACH THEIR STUDENTS HOW TO SURVIVE FINANCIALLY IN THE WORLD TODAY. TO WHAT EXTENT DO YOU AGREE OR DISAGREE WITH THIS STATEMENT?

It is undoubtedly that since education's ultimate goal is equipping students with necessary knowledge and skills to become global citizens, the curriculum must adapt to the changes of the world. Thus, educational content taught at schools should not only be framed at literacy and numeracy but also aim to impart children practical skills such as monetary management. This essay will analyse and prove the importance of financial literacy at schools. Teaching budget management is associated with numerous merits. First and foremost, it is an indispensable skill to apply to and survive in every field. However, current educational programs only attach and equip youngsters with a wide but trivial range of knowledge from numerous fields, therefore, a depressing status quo has derived from this unrealistic curriculum is that a variety of fresh graduates is absent from financial knowledge. Visible repercussions of economical illiteracy are squandering budget due to unplanned spending strategy, or inability to distribute budget to reasonable expenses in difficult circumstances. Hence, to preempt these consequences, youngsters should be educated about how to survive financially at schools. Furthermore, teaching monetary management skills in the curriculum could spot out and exploit the potential of children who are gifted in the business field, and having basic knowledge about economics might later be an outstanding feature of the candidate’s CV and qualify them for high-paid positions in firms. On the flip side, this newly-added curriculum might contain more shortcomings than expected benefits. With under-graduates who tend to be overwhelmed with the curriculums, an extra subject on finance might put more strain on them and can render students stressful, which might be conducive to poor academic performance. Another reason to advocate not teaching financial skills for children is that economic knowledge might be beyond the receptive ability of them. Since economics is a sophisticated field, curriculum in schools should be simplified to be understandable for students. Nevertheless, this knowledge might be unrealistic compared to the real status quo and children will be unable to apply what they are taught at school to solve problems when they graduate. Therefore, financial subjects might be a waste of time and effort when being added into the curriculum. In summary, it is unequivocal that economical skills are vital to every student, notwithstanding, teaching it as a subject at school should be carefully considered as it can be demeritious if being educated in a wrong method.