A lot of young people do not know how to manage their money when graduating from high school. What do you think are the reasons? What can be done to teach them this important skill?

#people #money #school #skill

Every year many young adults leave schools without adequate

knowledge

of personal finances as they do not know how to financially navigate the real world.

This

financial illiteracy is primarily due to inadequate

education

as well as the lack of

first

-hand

knowledge

However

, satisfactory

education

related to managing finances and proper parenting can solve it. The reasons why many young adults are incompetent to manage their own money are the lack of both theoretical and practical

knowledge

. Personal finance is not yet a part of the school curriculum. In consequence, they are deprived of acquiring theoretical

knowledge

Likewise

, many

parents

do not share financial responsibilities with their children.

As a result

, youngsters do not get hands-on experience. Take my cousin for an example; my uncle has never given any financial accountability to him and in consequence, my cousin does not know how to manage budget and plan for savings even though he is 19.

However

, financial

education

comprises lessons that enable an individual to make informed and effective decisions with all of his financial resources. If the schools incorporate financial

education

into its curriculum,

then

pupils can learn how to budget, how to use a credit card, how to save, how to avoid debt and so forth.

Similarly

parents

can teach their children a good lesson by providing real-life experiences.

That is

to say that

parents

can share some financial responsibilities with their children.

For example

, my

parents

give me some pocket money and

also

give me the freedom to make my budget on my own. Consequent, I learned two great lessons – we should spend what we can afford and how to avoid the pitfall of unplanned expenditure. To conclude, in the present dire situation, financial

education

is essential than ever before. Schools should integrate financial

education

into the curriculum while

parents

ought to share some financial liabilities with adolescents so that they can gain both practical and theoretical

knowledge

of money management.

Submitted by sriharsha1862 on Thu Feb 04 2021

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10Linking words
meeting the goal of 7 or more
3Word repetition
meeting the goal of 3 or fewer
0Grammar mistakes
 

4 paragraphs

324 words

0123456789.0505

Overall Band Score

Coherence and Cohesion: 7.0

Logical structure

Introduction & conclusion present

Supported main points

Accurate linking words

Variety in linking words

Lexical resource: 8.0

Varied vocabulary

Accurate spelling & word formation

Grammatical Range: 9.0

Mix of complex & simple sentences

Clear and correct grammar

Task Achievement: 7.0

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Clear & comprehensive ideas

Relevant & specific examples

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Topic Vocabulary:

financial literacy
real-world applications
consumer culture
credit facilities
financial independence
practical financial literacy
manage finances
financial responsibility
money management
financial planning
tailored
accessible

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A lot of young people do not know how to manage their money when graduating from high school. What do you think are the reasons? What can be done to teach them this important skill?

Your opinion

Essentional vocabulary list for IELTS Writing 7+

In some countries, more and more people are hiring a personal fitness trainer, rather than playing sports or doing exercise classes. What are the reasons for this? Is this a positive or a negative development?

Some people think studying in groups is better, while some think self-studying is better for school students. Discuss both sides and give your opinion.

These days many people leave their country to work abroad and take their family with them. Do you think benefits of this outweigh disadvantages in terms of family development?

Some people say that the main environmental problem of our time is the loss of particular species of plants and animals. Others say that there are more important environmental problems. discuss both views and give your own opinion.

Some people believe that it is good to share as much information as possible in scientific research, business and the academic world. Others believe that some information is too important or too valuable to be shared freely. Discuss both these views and give your own opinion.