An academic institute usually deals with science, arts and commerce related subjects while ignores teaching money management and this is why it is often noticed that students who do well in school struggle while taking care of their finances in real life. Having said that, academic and financial intelligence cannot be seen as inherent contradictions, but they truly are two mutually independent competencies. I personally believe that value of money and money management should be taught in schools.
The author of the book “Rich Dad Poor Dad” terms Financial Independence as ‘you being able to make your money work for you and not the other way around’. Students who get to learn about how to spend, invest and save money rarely find themselves in financial predicaments despite what their salaries bring in. Such skills are often inculcated through parents or by observing people who practice them. On the other hand, students who lack these skills usually find themselves with insufficient funds no matter how much their jobs pay them. They never learn to develop their assets. It renders them dependents on their jobs for life as it is their only source of income. The earnings are mostly spent on their liabilities leaving them with paltry savings.
If money management is taught as a part of school curriculum, all the students will get a chance to learn such skills. They will grow up to have more knowledge of money and finance. Consecutively, they will have a better perspective while making financial decisions. This will lead to a more stable, enriched and self-reliant society.
To conclude, I would say that earning money may not be the goal in life but it is the money that provides us with our basic needs and the sense of security. All these points advocate that learning the skills to value and handle money is definitely a crucial part of life. Thus, I believe that lessons for financial management should be made a part of school curriculum so that more and more students can have a chance at a financially stable future.
An academic institute
usually
deals with science, arts and commerce related subjects while
ignores
teaching
money
management
and this is why it is
often
noticed that
students
who
do well in school struggle while taking care of their finances in real
life
. Having said that, academic and
financial
intelligence cannot be
seen
as inherent contradictions,
but
they
truly
are two
mutually
independent competencies. I
personally
believe that value of
money
and
money
management
should
be taught
in schools.
The author of the book “Rich Dad Poor Dad” terms
Financial
Independence as ‘you being able to
make
your
money
work for you and not the other way around’.
Students
who
get
to learn about how to spend, invest and save
money
rarely find themselves in
financial
predicaments despite what their salaries bring in. Such
skills
are
often
inculcated through parents or by observing
people
who
practice them.
On the other hand
,
students
who
lack these
skills
usually
find themselves with insufficient funds no matter how much their jobs pay them. They never learn to develop their assets. It renders them dependents on their jobs for
life
as it is their
only
source of income. The earnings are
mostly
spent on their liabilities leaving them with paltry savings.
If
money
management
is taught
as a part of school curriculum, all the
students
will
get
a chance to learn such
skills
. They will grow up to have more knowledge of
money
and finance.
Consecutively
, they will have a better perspective while making
financial
decisions. This will lead to a more stable, enriched and self-reliant society.
To conclude
, I would say that earning
money
may not be the goal in
life
but
it is the
money
that provides us with our basic needs and the sense of security. All these points advocate that learning the
skills
to value and handle
money
is definitely a crucial part of
life
.
Thus
, I believe that lessons for
financial
management
should
be made
a part of school curriculum
so
that more and more
students
can have a chance at a
financially
stable future.