Financial Education Should Be A Mandatory Component Of The School Program | Band 8 IELTS Essay Sample
Financial education should be mandatory component of the school program. To what extent do you agree or disagree?
Here is a band 8 IELTS essay on this topic written 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
Financial literacy is one of the most essential skills required to survive in this world. It is often debated whether financial education should be a mandatory component of the school curriculum. Despite the many arguments against this, I completely agree with the opinion that it is necessary to make financial education part of the regular course structure in schools.
School going children are often considered too young to understand money management. Since parents would be handling the expenses of their wards usually, the need for students to learn how to handle their finances is very limited. For instance, as long as all their needs are met, kids are rarely bothered about how monthly family budgeting is done. Also, it is sometimes argued that parents and not teachers are the best people to educate young adults on how to manage their income and expenses. As every family’s financial situation might be different, tailored financial wisdom imparted by parents will be more relatable and hence more understandable for the children than a generic course taught at school.
However, in the long run, shielding the next generation from understanding financial aspects is not beneficial to them or society in general. Young adults who grow without financial literacy will struggle to manage their finances later in life. A community full of adults who cannot attain financial independence is a recipe for disaster. For example, these days, we often find youngsters spending their money on trivial things like buying the latest mobile phones or automobiles, instead of investing it. It is because unlike their parents, millennials were never taught the value of money and how to manage it well. Also, if parents themselves are not equipped with the right sense of financial know-how, it is impossible for them to impart this to their children. Making financial education a compulsory course in the school program will ensure that no child is deprived of an opportunity to achieve / attain financial independence.
In conclusion, it can be said with full conviction that making financial education a mandatory part of the school curriculum is very essential as it will aid in preparing the students to be financially independent adults in their later life.
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