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

In the current era, many teenagers graduate from their schools without a piece of adequate knowledge in managing finances in their lives. Mainly, it happens

due to

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improper education

as well as

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the lack of first-hand skills.

However

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, the implementation of more

money

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management classes and nice parenting can contribute to addressing

this

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negative development. The reasons why many young adults are incompetent to manage their own

money

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are the lack of both theoretical and practical knowledge. Indeed, finance management is not included in the school curriculum yet,

thus

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youngsters are unable to get to know the theoretical part of financial studies.

In addition

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, many parents do not share the responsibilities of directing spending with their children,which results in absence of the hands-on experience. If the schools add financial education into their curriculum pupils will get the opportunity to learn how to budget, use credit cards, save

money

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and avoid debts.

Similarly

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, parents can

also

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educate their children by providing real-life experiences.

In other words

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, they can share some responsibilities,

such

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as giving freedom to make a budget on the child's own.

As a consequence

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, kids will know how to spend what they can afford and how to avoid unplanned expenditures. In conclusion, the issue of teenagers struggling with

money

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management can be solved if schools integrate financial studies into the education system and parents share some liabilities with their kids so that they gain both theoretical and practical experience in budgeting.