Why personal finance should be taught in school ?

Why personal finance should be taught in school ?

Generally, the education we get in school teaches us how to become a good human being in life, but due to this, our financial education does not reach the level it should have been. If we were able to learn financial subjects from school days, our future would have been brighter.

Here we discuss some important topics which represent why personal financial should be taught in school ?

Essential skill:
Everyone should know how to use money in the right way. Making a budget, saving, paying bills, understanding loans, investing – these are all basic tasks of life. But these things are not taught in school, so students remain confused.

Avoiding debt and mistakes:

Many people get caught in the trap of credit card, loan or interest, because they do not understand it. If personal finance is taught from childhood, then these mistakes will not happen and financial decisions will be taken wisely.

Makes you Financial Independent:
When a person learns to manage his money, he can easily achieve the major goals of his life – like buying a house, starting a business, or saving for retirement.

Reduces Stress:
The biggest stress is taking tension about money. If we are taught in school how to manage money, there will be less tension in the challenging life ahead and confidence will increase.

Prepares for Real Life:
In school, we mostly study for exams, but not for the real problems of life – like paying EMI, understanding taxes, making investments. By teaching personal finance, students can be prepared for real life which will be really helpful .

Makes a responsible citizen:
If people are financially literate, they make the economy strong, keep their family secure, and take decisions after thinking. They will input social support , even they will be the valuable assets to make a society and also helps people

Availability to help others

When your own financial position is strong, you can also help others – parents, children, or those in need. Be it someone’s education, treatment, or donating to a social organization – financial understanding gives you the power to be generous.

FAQs:-

• How do you manage your personal finances ?
  Ans- Managing personal finances is more than just keeping track of expenses. It’s about protecting your money. No matter how much you earn or how much you spend, it gives you peace of mind, flexibility, and the power to make future-focused choices. Here’s a unique way to take control of your money: Read more  :- Click here
• Why is personal finance so important?
  Ans- In today’s world where everything is available online and spending is just a click away. Spending money wisely is      not just an art but an essential life skill and this promotes personal finance. Personal finance is no longer just a subject of  economists and bankers but it has become a needs of every individual’s life whether they are students, servicemen,      housewives or even retired people. Read more . Click here