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Homework 2

Students often lack money management skills due to insufficient personal experience, with many only receiving pocket money from their families. Introducing mandatory financial literacy courses in high schools could provide essential knowledge and practical skills for managing money effectively. This change in curriculum would help prepare students for financial responsibilities in their future lives.

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20 views1 page

Homework 2

Students often lack money management skills due to insufficient personal experience, with many only receiving pocket money from their families. Introducing mandatory financial literacy courses in high schools could provide essential knowledge and practical skills for managing money effectively. This change in curriculum would help prepare students for financial responsibilities in their future lives.

Uploaded by

mirwaishussaini706
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Managing money is one of the most important skills that students must learn before

graduating from high school. Only a small percentage of students learn this skill outside of
school, such as by working part-time or at their family's workplace. In my opinion, there are
numerous factors contributing to this problem, the primary one being a lack of personal
experience. In other words, they were denied the chance to experience it firsthand. On the
other hand, changing the curriculum, such as adding a new lesson about money
management, can be beneficial for them to experience before beginning their life journey.

Experience shortage is one of the major reasons why students lack knowledge of money
management. Some experts, such as Amir Mohammad and his colleagues at Cambridge
University, conducted an experiment on the number of students who attend high school.
They divide these students into two groups: those who only attend classes and do not work,
and those who are working beside the school. These experts understand that students who
work and earn money learn good money management skills, whereas the other groups do
not change because they receive their school pocket money from their families. According
to the findings of this study, students in high school should gain this skill through
experience if they have the opportunity.

Introducing mandatory financial literacy courses in schools would be an e ective solution.


Many universities' economics departments have such a lesson for their students, but given
that the economy has improved in recent years, it is preferable to teach the fundamental
structure of money management or how to save it for future decisions to high school
students. We previously suggested that students learn by doing, but because everyone's
situation is unique, a lecture would benefit all students and their families.

In conclusion, having the ability to manage money is important in every part of life,
especially for those who just finished high school and need to know. One of the causes of
not having this skill is the experience, which mostly students don’t have, and if we want to
end this disability, we may bring a new lesson that teaches the straightforward rules of
management. Do you think students would need to use this talent for the next years, or
would it be di erent?

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