All High Schools Students Should Be Taught How To Manage Money | Band 8 IELTS Essay Sample

All high school students should be taught how to manage money because it is a skill necessary for succeeding in life. Do you agree or disagree?

Here is a band 8 IELTS essay on this topic submitted by one of our students. Need help with IELTS writing? Get your IELTS essays, letters and reports corrected by me.

Band 8 IELTS essay sample

All children who are in high school should be trained in money management. This essay agrees with the argument that teaching youngsters about money is essential as it is a crucial skill for success in their future life.

During teenage, all expenses of a student are met by their parents and hence they do not gain any experience in money management. Shortly after their teenage, these little ones will have to face real life where effective spending of money becomes a significant aspect of living. So, if proper training is provided for handling money at an early age, it can be beneficial for their future as well. For instance, a recent study conducted by the University of Delhi found that students who did not attend money management courses at school level were struggling to manage their income in future as well.

After the school years, most of the students start earning by themselves. Contrary to the stage where they had to depend on elders for all needs, they reach a period where they have income of their own. If young people lack financial skills / knowledge of how to use their income efficiently, they will spend all of their money without saving any. So, if proper guidance on expense handling is included in school curriculum, this situation can be avoided. For example, the Times recently reported that most of the students who received training in income and savings paid on their own for their graduation.

To conclude, all teenagers should be provided money management lessons in school. This can help them in future and will also aid them in handling their income effectively.

Do you have an essay on this topic? Submit it below in the comments for a free band score estimate.

Manjusha Nambiar

Hi, I'm Manjusha. This is my blog where I give IELTS preparation tips.

16 Responses

  1. Barinder says:

    Money management is an important skill and has to be acquired by everyone. However, I think that adolescence is not the best age to master the fundamentals of financial stability. This essay will discuss my points of disagreement with the given argument along with real-life illustrations.

    To begin with, a student has to study 5 academic subjects, on an average, per day which implies that additional subjects will not only increase their burden but also will make them book worms. In addition, in continuous comprehensive evaluation system, the pupils are given daily assignments which adds to their final scores, so at the end of the day, no time and energy is left to learn something extra that will be useful in life, but after 10-15 years. So, one more academic subject can wreak havoc on a student’s mind.

    Moreover, managing money is a practical skill. How can a youngster learn it in a theoretical manner? Even if a young mind is able to grab the principles of handling money he is more vulnerable to be confused in the decision-making process while buying something for them. The learner will start focusing on being rich rather than studying other academic subjects. Hence, inspite of help, teaching about money can start creating problems in adolescent lives.

    All in all, adding a monetary lecture in schools will increase a student’s studyload as well as can affect their nature and habbits.

  2. Akash Dhingra says:

    Please evaluate my Essay and thanks for the help.

    As we have been taught that survival in the world is the most difficult task, which is not an option but a necessity for every being in this universe. One of the factors which mostly help to tackle our problem is money. This essay agree with the statement that all teenagers or high school students should be guided on how to manage and properly utilise the money so that it might become of the factor for reaching the pinnacle of the success.

    On the major factor that the students should be taught about the proper utilization of money so that they appreciate the hard work that has been imposed to earn the money and never ever think about wasting the money on inadequate things. For instance, child whose father is a driver, should be taught that reckless wasting of money might result into being homeless or one day they will not have proper food to eat.

    On the other hand saving the money will curtail the future problem and will lead a happy and a successful life, which every person wishes to achieve. It has been seen that rich parents give the full right to their children to buy whatever they want, which leads them to a domed situation in which they does not want to work and only want to achieve without any hard work, and then failure leads to the mental pressure because importance of money has not been taught and now it’s an impossible to achieve that.

    To conclude, i suggest that, first and the foremost task is to guide the students regarding the advantages of management of money so that never in future they should face any kind of problem.

  3. Sukhpal Kaur says:

    Money plays a vital role in people lives. Some people believe that schools ought to teach money management skills to students. I totally agree with this view because of the materialistic nature of society and inflation.

    Nowadays, marketers bombard people, especially youngsters, with advertisements to increase the sales of products and develop a thirst among them. Therefore, adverts are designed in such a way to compel people to place orders even if they hardly need such items. Since children have no idea about the importance of money, they often spend their pocket money on shopping than using it in buying study materials such as books, school bags and stationary. Consequently, teaching money-related skills to pupils is the need of the hour to save their money from such expenses.

    As the economy of the world is increasing, the prices of services and products such as food items, education and health insurances are increasing at an unprecedented rate. Hence, it has become imperative to learn the importance of money and necessary skills to manage it to spend it on right purpose. If the students have an opportunity to learn money skills, they will be able to face money problems fearlessly in the future. Rather than wasting money on useless activities such as parties, gambling and drinking, with money management skills, it can be invested in share markets to get profits.

    In conclusion, I believe that educational institutes must consider teaching money management skills in school curriculum.

  4. Claire says:

    Thank you MANJUSHA !

    It is argued that all teenagers in high school should learn money management skills because of its significance in our everyday lives. while I accept that this knowledge could benefit students, I disagree that thus they should all learn that as I believe that they can also learn this skill naturally while they are growing.
    The knowledge about how to manage money could help students get ready for their coming adult life which has a strong connection with money all the time. In order to have a successful life, we have to be able to pay our basic needs like rent, foods and bills, and we should also pay our entertainment like travelling. Sometimes we may want to conduct investment for our disposable income or we may plan to purchase a car or a house. With an early education on money management could ensure students get prepared for all those things they will face in the future.
    However, it is not necessary to promote this training to every student, as they will gain the knowledge by themselves in a variety of ways. They can learn this knowledge from their parents when they are shopping and comparing prices or brands in shops with them. They can also learn it by saving money for their favourite toys or dresses. Playing computer games like Decorate U House can teach them how to earn their points and how to spend them in a reasonable way too. All these daily life experience could inform them about the importance of managing their money they have.
    In conclusion, it is good to have courses about money management in schools to help students get prepared for their lives, but I will not support that it is a task for everyone as there are many ways to learn these skills in real life

  5. Kenny says:

    Findings show that criminals have low level of education. Some people believe that the best way to reduce crime is to educate criminals in prison so that they can get job.
    To what extent do you agree or disagree?

    Researches have shown that many criminals have little education. Hence, it is believed by some people that the education of criminals in prison would help to reduce crime and they can be gainfully employed. I disagree with this notion as criminals are often influenced negatively in prison, while the stigmatization of criminals, prevent them from working and they return to crime.
    First of all, a major reason why many ex-convicts reoffend is due to the bad influences when they are serving their sentence. Prisons often house a wide range of criminals, including hardened ones who can introduce others to other forms of crime, as well as link them up with lawbreakers outside the prison. For example, many drug traffickers in Nigeria were introduced to this crime when they were serving prison sentences. Thus, educating criminals so as to be employed is not significant to reduce crime since many criminals return to crime rather than been involved in legitimate businesses.
    Furthermore, the stigmatization of ex-convicts prevent them from being employed. Many prospective employers do not want to employ those with record of crime, while many employees often remind these people of their past acts. For example, a report by the Times revealed that a major factor responsible for reoffending is the stigmatization of ex-convicts. Therefore, many criminals would return to crime despite receiving education in prisons due to stigmatization.
    In conclusion, I disagree with the view that the education of criminals is the best way of reducing crime, owing to the fact that many had bad influences while in prison and their stigmatization makes it difficult for them to get jobs. Efforts geared towards enlightening policy makers about this view should be promoted.

  6. nedi says:

    It is argued that teenagers have to be taught how to manage their expenditures since it is a basic a skill for having a brighter future. Personally, I do take this point of you because it guarantees better standards of living and a successful profession.
    Firstly, learning how to stick to your budget is essential for having a better quality of life. for example once adolescents are taught how to be prudent in their expenses, they will be more careful about how to spend their money. So, they would be able to save more on a regular basis. This might be a reasonable practice for their adulthood in terms of how people can improve their financial status and consequently, levels of their lives.
    Secondly brighter carrier path would be more likely by developing money management skill. Youngesters should learn how to not squander their money for something that not worth it. Hence, they turn to grown up people who know how to start their own business and take the lead.In my experience saving currency brought me establishing my own company.
    some may argue that there is no necessity for acquiring budget planning when people are very young. However,As people grow up changing their attitude would be more difficult and so, it is better to learn a skill at an early age.
    all in all, I believe that young people has to have financial management as part of their schedule. As a result, they would have a better life in the future in both career and personal aspects.

  7. Shubham Kumar says:

    It is often argued that high school student ought to be taught the skill of managing money in the classes as it would help them to succeed in life. I agree with this statement and will provide the justifications to validate my viewpoint in below essay.
    To begin with, Money is the important aspect of human life and it is said that every student should learn the skills to manage money in their school time as this approach would provide a lot of stupendous benefits in their adulthood age. Firstly, this approach would help a student to understand the importance of money and they would spend it judiciously on buying things. Moreover, it also encourages the practice of savings among the children which perhaps is beneficial for them. A recent study conducted by Harvard University found that students who learn money managing skills in their schooldays might actually face less financial problem in their subsequent ages.
    Secondly, it would give them the approach of self-dependency among the children. They do not spend money on bad habits like smoking, drinking and drugs which are very common in the high school students. Moreover, these students always look for the alternative to earn money through part-time jobs so that they would finance their studies on their own and help their financial weak parents.
    After analyzing the above scenario it is not very hard to come on the consensus that every high school student should learn the money managing skills as it would make them self dependent and teach them how to spend money judiciously which would help them in their subsequent age.

  8. Ricky says:

    Financial management is one of the most ignored form of life skill which people lack. It is argued that children studying in schools should be educated on managing their capital as it is crucial to be successful in life. I strongly agree with this opinion and this essay will elaborate key aspects with relevant examples from India and China.

    Admittedly, managing own finances is today’s era is significant and a way to develop more income from your existing wealth. Ironically, this art of management is lacking in almost every academic institution. With rising costs and inflation across the globe, it is wiser to save and invest money so as to sustain economically. With a few interesting financial tools such as mutual funds, shares, fixed deposits people can now learn to increase their existing capital by investing in such platforms. In a recent study in India, some researchers found that almost 60 percent of iife savings of our population is resting in their bank accounts which could have been used more effectively had they gained some information on finances.

    On the other hand, technology has made it so convenient for user to learn this subject so conveniently. While is true that basic education on such topics should be imparted from elementary stage;however, it is not necessary to develop advanced knowledge from that small age. Online applications and websites have made wealth management knowledge user friendly and it is easier now to understand the basics within a few days.For example, In China, application such as ‘Tigershare’ assist a customer with every bit of information on how to invest their money wisely. There are tutorials, videos and virtual game to show how to grow money and one can learn the technique and trade skills within one year of usage. Moreover, I personally feel that with changing times, some knowledge pertaining to such topics may not be relevant in future. Therefore, it is better to learn them at a later stage than learning to unlearn from the start.

    In conclusion, although basic understanding of capital management should be taught in schools, advanced knowledge should be taught at a later stage which is more practical to adapt to current times.

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