Financial Education Should Be Included As A Mandatory Subject In Schools

by Manjusha Nambiar · Published December 6, 2023 · Updated April 10, 2024

Here the prompt asks to what extent do you agree or disagree with the given argument. If you fully agree, explain why you believe that financial education should be an integral component of school programs.

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Sample essay

According to some people, schools should teach students money management by making financial education an integral part of the syllabus. I agree with this view to some extent.

If finance is taught at school, students will certainly have some understanding of money management. For example, they will learn about the different methods of investing money. Likewise, they will also learn about advantages and disadvantages of obtaining loans. Many young people, even those with a bachelor’s or master’s degree, have zero understanding of money matters. Many of them cannot even write a cheque or know the distinction between a cheque or demand draft. If financial lessons are compulsorily taught at school this situation will change to a great extent and hence I welcome this move.

On the other hand, learning about money is one thing. Earning and spending it is another thing. Even after receiving financial education at school, there is no guarantee that young people will become prudent spenders or investors. At school children have no opportunity to earn or spend money. They can only learn about the different ways of earning and spending it. What I have learned from my own experience is that our spending habits are greatly influenced by our parents. If parents are spendthrifts, children will automatically imbibe that habit and grow into responsible spenders. Similarly, prodigal parents are less likely to have frugal children. For this reason, I believe that home is a better place to learn money management. Of course, there is no harm in giving financial lessons at school. However, those lessons alone may not make children good at managing money.

In conclusion, making financial education a compulsory part of school programs is definitely a good idea. However, it is not a foolproof method of teaching money management to children. In my opinion, parents are better equipped to impart this lesson than teachers.

Essay sample 2

Everyone has to learn to manage their finances. Children are no different. Therefore I agree with the argument that money management skills should be taught in secondary and higher secondary schools. This practice will prepare young people for their future.

Since we need money to buy essential items and to lead a comfortable life, money management skills are crucial for our overall well-being and happiness. There are several benefits to teaching money management at school. A lot of children, especially those coming from rich families, receive generous amounts of pocket money. Many of them waste this money on unnecessary things because they don’t understand or appreciate the value of money. If money management is part of the curriculum, they will learn to use it judiciously. This learning will stand them in good stead throughout their life.

Also, after school, many children leave their home and move to far away cities to pursue higher education. Unless they know how to spend their money, they will soon run out of funds and put them and their families in trouble. If they learned money management at school this wouldn’t happen.

There is no right or wrong time to learn a skill; even so, the sooner we start the better. Today’s children are tomorrow’s adults. If they learn essential life skills today, it will benefit them and their country now and in the future. Last but not least, money management lessons may also improve the arithmetical skills of the children.

In summary, developing the foundation is crucial for any learning and having money management as a subject in schools will definitely prepare young people for their future.

How to write an introduction for your IELTS essay?

Your IELTS essay will have 250 to 300 words and 4 or at the most 5 paragraphs. That means it is not a lengthy composition. Ideally, the introduction should have two or three short sentences. While writing the introduction, try not to repeat too many words or phrases from the task rubric. Instead, rewrite the given question in your own words. If the topic asks whether you agree or disagree with the given argument, you may write ‘I agree’, ‘I fully agree’ or ‘I (fully) disagree’. If you do not completely agree, you can write that you agree to a great extent / certain extent.

Let’s see some different ways of writing an introduction for this topic.

Financial education should be included as a mandatory subject in schools to prepare students for managing money effectively. To what extent do you agree or disagree?

While writing this essay you have the option to agree, disagree, fully agree, partially agree or fully disagree. Make sure that your body paragraphs fully support the opinion given in the introduction.

Sample introduction 1

Some people insist that by giving compulsory financial lessons at school, children can be taught money management. I agree with this view to a great extent. / I do not quite agree with this view. / I fully agree with this view.

Sample introduction 2

According to some people, if mandatory financial lessons are part of the school syllabus, children will learn how to manage their money. In my opinion, this is true to a great extent. / In my opinion, money management cannot be taught in this manner.

Sample introduction 3

Some people opine that financial lessons should compulsorily be included in school textbooks because it is a great way to make children better at managing their finances. I agree with this view to a great extent.

Can you write an introduction for this topic? Post it below in the comments.