Financial management has become essential for individuals to navigate life successfully.

Financial literacy empowers people to make informed decisions about their money, savings, investments,

and debt. It is imperative that financial management be a required subject in educational curricula,

ensuring that every student is equipped with the knowledge and skills necessary to manage their

finances effectively.

Financial management education fosters financial independence. Many young adults enter the

workforce or higher education without understanding budgeting, saving, and investing. This lack of

knowledge often leads to poor financial choices, such as accumulating high-interest debt or failing to

save for future needs. By incorporating financial management into the curriculum, students can learn the

importance of budgeting, understanding credit, and planning for long-term financial goals. This education

will enable them to make sound financial decisions that promote stability and independence.

Some believe that financial management education should be the responsibility of the student's

parents and guardians. They argue that parents are best positioned to teach their children about money

management, so they can tailor the lessons to their family’s specific financial situation and values. By

placing the responsibility on schools, there is a risk of undermining the role of parents in their children’s

financial education. However, some families struggle financially due to their lack of financial literacy and

by allowing those parents to teach their children how to manage their finances, their struggles with

financial security may cycle through the next generation. By teaching their children through a school-

organized curriculum, the students will be able to learn the effects of financial decisions in a more

organized manner, which will allow for a faster understanding of material and memorization for future

experiences.

Financial management education can help mitigate the rising issue of student debt. With the cost

of higher education continuing to soar, many students find themselves taking out substantial loans to

fund their education. Without proper financial literacy, these students may not fully comprehend the long-

term implications of their debt or how to manage it effectively. By teaching financial management,

students can learn about the various types of loans, interest rates, repayment plans, and strategies to

minimize debt. This knowledge can empower them to make more informed decisions about their

education financing and reduce the likelihood of overwhelming debt burdens post-graduation.

Making financial management a required subject in education curricula is crucial for fostering

financial independence, teaching life skills for success, and mitigating student debt. By equipping

students with the necessary financial knowledge and skills, they can become empowered to make

informed decisions that lead to a more secure and prosperous future. Financial literacy is not just a

valuable skill; it is a fundamental life skill that everyone should possess.