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

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In modern society, a growing number of graduates leave schools without adequate
education
of
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or
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finances as they do not know how to navigate financial problems .
This
financial illiteracy is primarily associated with a lack of both hands-on and theoretical knowledge in schools
as well as
first-hand information about finance .
However
, satisfactory
education
and proper parenting style could tackle
this
problem . The reasons why juveniles are incompetent in managing their own money are mainly related to the devoid of both practical and theoretical
education
. As personal finance is not part of the school curriculum , individuals could experience some difficulties in controlling their
budget
wisely.
Moreover
, some
parents
do not share certain financial responsibilities with their children;
therefore
, youngsters lack hands-on experience in their lives.
For instance
, some
parents
have not given financial accountability and pocket money to their offspring in consequence , they do not how to manage their
budget
and plan for saving in the future. I believe that problems have to be tackled on a number of levels .
Firstly
, financial
education
comprises basic information which enables individuals how to manage their
budget
and give responsibility for making informed and efficient decisions . If the schools incorporate personal finance into the school curriculum , students will get rudimentary knowledge ,
such
as how to manage a
budget
, use credit cards and avoid debt.
Similarly
,
parents
should take responsibility by instilling financial independence in children. To illustrate ,
according to
investigations individuals whose
parents
gave them the freedom to make a
budget
are more confident in terms of spending money and planning personal budgets in comparison with others. In conclusion , I strongly believe that financial
education
should be incorporated into school lessons and
parents
ought to share some financial liabilities with adolescents so they can get some practical knowledge in their life
Submitted by bhoswriting on

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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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