Financial education should be a mandatory component of the school program. To what extent do you consent or dispute with this statement? It’s an obvious fact that financial aspects are a major portion of the daily life, as an adult and even as a youthful individual.
Each and every one of us has to create financial decisions concerning recreation, health, education and more. The question is whether to start with financial education as portion of school program or to postpone it for a later stage in life. To start with, being able to realize the cost of money, the way the economic system works and to interpret financial news and its implications is a virtue.
Without this virtue, an individual, even a youthful one, might suffer to some extent. For an example, a baby who doesn’t realize the concept of money might discover it more challenging to except choosing only one present out of more possible ones. In addition, many adults are lacking capability of financial analysis. Quite often, the reason can be the lack of sound foundations or insecurity when it comes to financial terms and concepts. Starting an early age, building a powerful background, can very likely prevent such situation.
However, financial education necessarily involves quantifying and setting prices and cost for services and goods. It can easily turn youthful people into cynical human beings who lack emotion. Furthermore, a tendency to self-concentration and egoism might rise when one start measuring everything a profit-making perspective. In conclusion, financial education has both pros and cons.
In my opinion, the advantages are more significant than the disadvantages, making financial education an advisable component of the school program. The disadvantages should be thought of as a certain price that youthful people have to pay due to the characteristics of the world that we live in.