Indubitably, in the current era of materialism, money management is one of the most crucial skills to be acquired.
However
, it is a disturbing but undeniable fact that any knowledge or information regarding
such
aspects is significantly lacking among contemporary high school graduates. Apropos of the matter,
this
essay will elaborate on its drives as well as propose several solutions to tackle
this
issue.
To begin
with, the fact that high-school leavers are not capable of balancing their income and expenditure can be attributed to two main rationales, one of which is the current outdated educational system. By way of clarification, schoolchildren are overloaded with a great number of subjects in both scientific and social fields, not to mention the several extracurricular classes, rendering the uptake of lessons about conscious spending impossible due to insufficient time.
Additionally
, the inability of high-school leavers to manage their own finances
also
results from the
parents
' negligence regarding
this
matter. Evidently, the majority of high school students live with their
parents
and are wholly financially dependent on them.
Accordingly
, except for those growing up in underprivileged families, most adolescents form a carefree attitude towards money since their
parents
always overprotect them in financial matters, and yield to every wish of them, which gradually instils a habit of underestimating the value of cash and minimizes their chances of becoming capable money managers.
Admittedly, various feasible solutions can be implemented in order to comprehensively remedy the aforementioned problematic issue. On the educational level, more emphasis should be placed on the instruction of essential and transferable life skills in an academic environment
such
as the complete guide on the know-how to distribute their allowances effectively.
Such
a practice can equip scholars with adequate knowledge to manage their own finances and successfully transition into adulthood in
this
money-driven society.
For example
, suppose that schools organize several workshops during the academic year, students would be informed about steps for financial planning and
then
further
foster
such
skills by gaining
first
-hand experiences through practical experiences or extracurricular courses during summertime.
Moreover
, on the parental level, they would have to adopt a few strict measures and become less lenient towards children's desires. By keeping the allowance dispersed at given times and not by any chance extending credit,
parents
can surely teach their kids about living within their means.
In conclusion, the negligence of schools and
parents
regarding budgeting should be the main cause of high-school leavers’ lack of financial knowledge.
However
, I believe that
such
a trend can be reversed with concerted attempts made in both school and family settings.