There’s a
saying that says, money makes the world go round. Hate to point out the
obvious, but it is true. In this new era, money is what it takes for the
society to keep on surviving, well, except for having happiness and religion
etc, but that is beside the point. The point here is that, the world is a
competition and we need to educate ourselves, from young, on how to keep our
financial balance on stable platform.
Thus, the Education Ministry should take note on some of the reasons why
they financial education should be taught at school, namely, instilling a good
financial management from a young age, reducing individual financial crises in
the future and creating an economic savvy society.
I do agree that parents should carry a
bigger role in teaching their children on things such as saving money and not
spend on unnecessary things, but it is also the government’s role in further
educating on the theories of having good financial management. It is vital as
it actually prepares the future generation to be more aware of the harsh
reality. Moreover, when we give them an education on managing their finances,
it will help them in the future in terms of having the cash for further to secondary
or tertiary education. Therefore, for the betterment of the future generation,
is it ideal to educate them at school about having a good financial management.
Day in, day out, we see news on young
adults has gone into bankruptcy. At the start of their young life, they have
negative balance in their bank account and still owing. Having rents to pay,
bills to settle, mouth to feed, etc, bankruptcy would be the last thing anyone
could ever want. This is an issue we would not want our generations to have. A
way to avoid this is by training them from small the benefits of saving and
managing their money because at the end of the day, they will be the one who is
going to enjoy that. By doing this, it will therefore reduce individual
financial crises and simultaneously creating a happy living condition.
Creating an
economic savvy society does not mean society that gets involved in stock
market, investment or the index. But it is a society that is capable to support
their respective families and still have enough money for the future and also
is able to give back to society and do well.
It also means that the society is able to comprehend and understand on
the nation’s current economic background. By grasping the financial knowledge,
it leads to a society that does not spend unnecessarily and therefore
developing a better country. Thus, the
significance of educating young children on financial is obvious as it would
benefit the advancement of the country.
To conclude, before understanding the whole
concept of financial management, it is a good idea for us to come hand in hand
and educate the younger generations on having savings and such. The need to
introduce these types of knowledge to them not only will widen their mind but
also teach them to be prepared for the unknown future. It is hoped that the
Ministry of Education take this proposal to action in order to foster a broader
minded generation that will be the pride and forefront of the nation.
