Topic: Students leave high school without learning the way how to manage their money. What are the reasons and solutions of this issue?
Knowledge about financial literacy has been deemed imperative in many developed countries. Having said that, most students who graduated from high schools are alleged to lack this vital ability. I believe this inadequacy stems from the misconception of both educators and parents and also, only they could tackle this problem.
There are several reasons to interpret this matter, but the following two are the primary. First and foremost, due to the fact that high school students don’t have the ability to earn a living yet, teachers and parents don’t feel the need to press on the importance of personal finance classes to their students. This is followed by the outlook that becoming financially literate is a lifelong process and graduates from high school can be equipped with this later on. What’s more, the heavy workload from compulsory subjects such as Literature or Math for students to pave the way to tertiary education have already deterred them from taking money management classes.
This deficiency in financial literacy could be addressed with the joint effort of teachers and parents like the aforementioned idea. First of all, extracurricular activities during summer when schools are off to engage high school students in personal finance. By giving them detailed knowledge about budget management and encourage them to develop one’s financial plan in the future, it could improve the situation significantly. Moreover, parents can assist this process by granting their adolescent kids permission to take part in making important financial decisions of the family. This is an ideal option to let them get used to reaching their own decisions in the future.
To recapitulate, high schoolers’ dearth of money management ability derives mostly from parents and teachers. And only they could provide sufficient help to students to ameliorate this situation.
Võ Minh Sử – Chủ sáng lập Homeschooling English Center.