Financial education should be included as a mandatory subject in schools to prepare students for managing money effectively.

It is believed that economic teaching must be imparted to young students at schools, so they may learn to handle money well. I agree with this thought, for an early understanding of money management can help students in the future.

It has been seen that schools prepare students to earn money; however, they do not generally emphasize teaching finance management skills. Financial management is essential for a person as finances impact one’s quality of life, relations, and respect of a person. Hence, teaching this skill is essential, and must start at an early age. It is believed children have better learnability, and they may have ample time to learn intricacies when learning starts early. Managing money is as vital as making it, for in the absence of money management skills, one may fail to harness the complete benefits of one’s hard work, for one may be oblivious to best methods of savings and how best money can be used to earn more of it. In extreme cases, one may lose hard-earned or inherited money.

Furthermore, with more emphasis on young-age entrepreneurship and earning early, financial knowledge is sought by parents for their wards. This skill is not just critical for individuals and their families, it is essential for the economic development of a nation. In the absence of money management capabilities, citizens and nations may lag behind their contemporaries. A particular community in Gujrat, India, has been known to be prudent and talented in managing businesses and capital. These skills are taught in families to children at a young age. This community has not just flourished due to its financial management skills but has contributed much to the economic progress of the country. It is thus desirable to teach these skills in a structured way to young learners at their schools.

In conclusion, teaching financial management to schoolgoers is the need of the hour, as the earlier, the better. It is beneficial for individuals, communities, and nations.