Advantages of teaching financial education in schools
by Denny F. My OpinionFinancial education is
a program that allows people to have control over their finances and financial
resources. Financial education helps individuals to achieve financial skills
that allow them to gain self-confidence in their abilities. With confidence,
people make informed and responsible financial decisions. Students need
assistance with understanding how to manage their money effectively. Also,
financial education should be taught to students at an early age for them to
adapt the managing and budgeting practices. Finance assignment
help teaches financial education to students thus helping them to
prepare for university and the working world hence the students grow to be
economically successful individuals.
Advantages
of financial education in schools.
Educating students early about finances helps them
throughout their educational career and in their adult lives.
·
Promotes
Independence – Teaching financial education in schools
helps students become adults who are equipped to live independently after they
complete their studies. Financial education ensures that students understand
how to budget, manage, and efficiently save their money. Also, the students can
make wise financial decisions by learning how to pay down debt or avoiding it.
Financial education assists students to avoid overspending on things and
activities that might lead to bankruptcy or spending with a credit card.
·
Improves
self- esteem –
When
students understand the importance of making prudent financial decisions they
avoid common brokenness and pitfalls of those who do not manage their finances.
Besides, proper budgeting and managing of one's finances boost self- confidence
and also attracts respect from both family and friends. Therefore, financial
literacy is essential for students because it helps boost their self-esteem,
avoid common pitfalls, and gain respect from family and friends.
·
It
promotes responsibility- Students should be taught about
finances for them to grow as mindful citizens of the country's economic
development. Financial education guides students on how to make good choices
with their finances and directed how to work with their money without getting
into debt. Moreover, financial education alerts students on what to expect in
real-world situations such as loans, mortgages, and insurance. It guides them
on how to manage their finances according to their necessities.
·
Improves
fiscal knowledge – Financial education allows students to
become more practical when handling any allowance given to them by their
parents or anyone else. Being guided on how to manage their allowances allows
them to make mistakes that improve their saving and spending habits. Therefore,
students should be educated on the importance of saving and spending on their
money to avoid repeating reckless mistakes.
·
Motivates
students to pursue banking careers – Teaching financial education
in schools helps students to gain knowledge about financial decisions as well
as motivate them to pursue finance and banking professions. It is interesting
having an inspiring generation that admires to study finance because they will
help in the development of the country’s economy and help other people make
positive decisions with their finances. Therefore, students need to be offered
financial education because it will guide them in their dream career path.
·
Improves
knowledge in financial education – When students are
taught about finances, they get to understand how a checking accounts work,
what means by using a credit card and how to avoid debt. Also, students are taught how they will
balance their budget when building a home, funding their education, and making
sure that they have an income during their retirement.
Financial education is
essential in helping students gain more knowledge about how to save and spend
their money. This knowledge prepares them for future responsibilities where
they will contribute to the country's economic development. Moreover, financial
development allows students to make proper financial decisions that promote
their self- esteem and gain respect from both their peers and family.
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Created on Jun 17th 2020 03:07. Viewed 280 times.