Financial education should be mandatory component of the school program. To what extent do you agree or disagree with this statement?
It is obvious that the financial aspects are most important part of our daily life, as an adult or as a young individual. We should be able to take financial decisions concerning our health, education, recreations, savings, future plans. To take correct decision, we should have proper financial education. But the question is that, we should start the financial education in school program or postpone it for later studies.
To begin with, to understand the value of money, understand the economic structure, interpret the financial aspects and to choose the best possible option among many, good financial education is must. Without this, an individual might have to suffer to some extent. For example, a young borrowing things without understanding the interest compounding on that or doing an investment without knowing the rates of returns. In addition, one of the most important decision for students is to know how to finance their education. An early grounding financial literacy, bridges this gap and sets the strong stage for later in life.
However, financial education involves the understanding of quantifying and setting prices for goods and services. This may turns them cynical and cold-hearted human beings. Furthermore, a tendency of self concentration and egoism might arise when people start thinking everything from profit making perspective.
In conclusion, financial literacy has both pros and cons. But as we know that eduction is never bad if it is utilized with good intentions and in positive direction. In my opinion, the advantages are stronger than the disadvantages in making financial education as a part of school program. The disadvantage of this can be thought of as the young people have to pay as the characteristics of the world in which we are living.
It is obvious that the financial aspects are most important part of our daily life, as an adult or as a young individual. We should be able to take financial decisions concerning our health, education, recreations, savings, future plans. To take correct decision, we should have proper financial education. But the question is that, we should start the financial education in school program or postpone it for later studies.
To begin with, to understand the value of money, understand the economic structure, interpret the financial aspects and to choose the best possible option among many, good financial education is must. Without this, an individual might have to suffer to some extent. For example, a young borrowing things without understanding the interest compounding on that or doing an investment without knowing the rates of returns. In addition, one of the most important decision for students is to know how to finance their education. An early grounding financial literacy, bridges this gap and sets the strong stage for later in life.
However, financial education involves the understanding of quantifying and setting prices for goods and services. This may turns them cynical and cold-hearted human beings. Furthermore, a tendency of self concentration and egoism might arise when people start thinking everything from profit making perspective.
In conclusion, financial literacy has both pros and cons. But as we know that eduction is never bad if it is utilized with good intentions and in positive direction. In my opinion, the advantages are stronger than the disadvantages in making financial education as a part of school program. The disadvantage of this can be thought of as the young people have to pay as the characteristics of the world in which we are living.
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