Topic: Financial education and why it should be a priority. - page 3. (Read 1702 times)

School can shape character, gain knowledge and mentality. because in school many conditions absorb into the child's character. making the character grow to adapt to the new environment and how to solve it. Character can be innate from childhood to adulthood, so it really matters how a child's future is good at the next level. The main key is just how parents deal with their children

At school they are only taught about education and the direction of that education is to become a good and useful human being for oneself and for one's own country in the future. This means that things related to finances and how to manage them are only told in general terms, while things that are more in-depth or more complete have to be looked for yourself outside of school. Either by asking their respective parents or people who are experienced in the field of procedures for managing finances in their lives.

I also quite agree that this is not taught in elementary school or middle school, but it would not be wrong if it were taught in special lectures to every student who after graduating from college they must be able to become very independent individuals and be able to be the best for himself and for his family too. Because they are no longer children who have to limit themselves to knowing something, moreover it is also highly expected that students who have graduated from college must be able to create jobs for themselves and for the people around them too.

For people who do end up with things like this, it's quite clear that we are talking about a scenario where it would be quite tough to just put things aside. So that would mean that you are going to need to find a way to earn money while investing. Why do you think people in the stock world invest heavily into things with dividends? That is because they want to grow while also earning, a company could use those dividends to grow even more, instead of paying the shareholders, they could just buy another factor to make more and sell more and earn more.

So, why are they deciding not to grow and pay shareholders? Because that means shareholders will invest a lot more, and would prefer them, people just like to keep earning even when they are sleeping.

Going through some few comments on this thread, this caught my attention because it's exactly what is running in my mind reading the Op. Personally, I think issues dealing with finance should be personal and everyone is responsible for their management. Besides, it would be very difficult to have a unique approach in teaching it unless we only want to focus on the basic concepts.

To buttress your point, let take mathematics as an example because it's one subject considered very important in every discipline in our schools. Everyone including myself see maths as a very difficult and uninteresting subject. There's no way for you understand financial education without having business to do with mathematics because it's the foundation. Financial education is not just about learning how to budget and save money, it covers many areas including debt and inflation. Without solid knowledge of mathematics, you'll hardly understand financial education. Trust me, even people saying it should be included in our schools curriculum will eventually advocate for it removal when their children start complaining about how hard and uninteresting it is. We have institutions offering it and one should willingly go for it if interested, my own opinion.

I don't think that it should be taught in school, education about one's own finances is a private matter that is worth learning which will have an impact on oneself in the future.
So no one is responsible for this for someone's future, but someone must be able to control their profits for their own future.
Managing finances in life is quite important for the future, that is what will determine our future so this is considered quite important.

If schools do not teach financial skills then it will be very difficult to manage their finances when they have a fixed income, they will not use their income on things that are useful for themselves so that the income they earn will not be enough to meet their needs and when they spend their income and also this will be very difficult for them because they don't have good financial management skills, so if we don't get them at school it would be better for us to look for ourselves so that we can have good financial management skills so that we can properly manage the income we have.

If someone is lazy in spending their money on things they don't need then they can limit their spending on things they don't really need, of course this is a very good thing because we will be able to save the income we have well and we will also be able to invest it if we have wanted.

Given the impact it has on our financial well-being as adults, it is unfortunate that financial education is not widely taught in schools. The ability to educate oneself about finances is a crucial skill that enables individuals to make decisions regarding their finances that are based on solid information and can last. We are easily consumed by laziness and possessions that are not necessary because humans are like that. It is not bad for us to occasionally become lazy and purchase items that are unimportant. But assuming it influences our funds and there are numerous obligations, it is not beneficial any longer.

Each person's way of managing finances will be different, but they have the same goals. Capitalizing on my intentions is never enough to make this dream come true, it requires movement such as paying attention and finding the right way to manage finances. Everyone certainly has the intention to ensure that the quality of their finances remains healthy and strong in the future. Managing finances well and soundly is necessary so that the future can be well looked after and makes it easier for them to fulfill all pre-planned or sudden needs.

Financial education is always taught in schools, most elementary school teachers prefer a different approach to teaching financial education to their students. Teachers often teach them the importance of saving, ask them about their goals and teach them how to live frugally, in general, all of this is financial education that is taught in a very simple way.

In fact, it is more difficult to control how much salary we will earn (income) than to determine our expenses (spending). Of course, we all want to get a big salary, because we always think that happiness is when we have a lot of money. But if a large income does not have a good balance with expenses, then what will happen is that there will be no development in our financial standards.

Many people have a lifestyle depending on how much income they earn, but in my opinion that is not recommended. Our lifestyle must be suppressed even though we have a lot of money. wasting money is not the wisest choice. Do you want to gain social recognition about your level of wealth? It's completely useless. People who admit that you are rich will only intend to use you, without contributing more to your life.

And to me, financial education is a necessary faculty in ones life who is aimed to set-up financial attraction such as sources of finances and also adhered with the ability to utilize and economically manages the finances with the goal to make more money.

Yep, the higher your salary is, the higher your expenses are. A person will adapt the kind of lifestyle that depends on the income. But no matter how big or small your income is, being financially responsible, there will always be something that will be left for savings. People with huge salary tends to have huge expenses as well in terms of bills, necessities, and wants. That explains why, no matter how huge the salary is, when finances are poorly managed, money will always run out just before the next salary comes. This goes as well for those low income earners. The only differences is, high salary earners lives a comfortable life.
Financial management are actually being taught in schools, but it wasn't really the main focus. Students in the 3rd world country were taught how to get a work and become effective to it, because having a work is the most practical way of surviving the daily needs. Building a business is a lot harder than just working for the other company though.

even more apparent with education about tax, lets be honest here, tax are complicated, but in high schools we aren't taught for this, even college, there needs to be education about tax, aside from education about finance that we as you said only get the surface about meanwhile the adult life only revolves around financial management and taxes, basically thats the only thing thats really needed when we reached adult life and already having active income.
the other thing about subject aren't really that important I mean fair enough its better to know some surface of certain objects like physics so that at least we are literate enough but i think some chunk of that teaching time could be better allocated for something like financial education and education about taxes.

Financial education is all about learning how to manage your limited resources in order to meet your needs.
Knowledge about finances is not taught in schools; rather, it is something you learn on your own.

The first step to learning financial education is knowing your needs and wants and sorting your needs in order of priority. Needs are essential things that you can't do without while wants are things that are not necessarily needed for everyday activity. Sorting out the things you want to get under needs and want helps direct what and how to spend your money.
However, financial education is something you learn on your own over time.

Financial education in schools often falls short, skimming the surface instead of diving deep into practical skills. It's like learning the alphabet but never actually forming words. We need financial literacy not as a textbook add-on, but as a life skill as essential as reading and writing.

The knowledge and ability to manage money wisely should be non-negotiable, pre-loaded software for every brain. Before the first paycheck even arrives, equipping ourselves with budgeting, saving, and responsible spending tools is crucial. It's like learning to bike before hitting the open road – essential for a smooth and safe financial journey.

Without this knowledge, even a hefty income can be like pouring water into a leaky bucket. It vanishes without creating any lasting value. But with good financial management, even modest earnings can blossom into something meaningful. Imagine: a secure emergency fund, investments for the future, or even the freedom to pursue passions without financial anxieties.

You are having a laugh: Knowing what do do does not make you do that.
Discipline is what is needed, That kimd os stuff lies in the hand of our parents.

You are right in what you say: financial education is important because other people earn a large salary but do not know proper financial management. Think of a large salary while others are still short on budget, while others whose salary is not that big are still able to save money.

The others are unemployed and not employees but can save money because they implement their so-called strategy, so that means there are others who, even though they don't know the word financial education, know something they don't know.

Private schools must of course provide good quality education because those who attend these schools pay a higher amount than schools that are under the auspices of the government. If they can apply the knowledge they already have well of course they will be able to get satisfactory results because they have pay more on the educational path they choose.

Saving and creating assets really depends on a person's personality. If they can manage their finances well, of course they will be able to have a lot of savings and assets. Those who have theoretical knowledge may not necessarily be able to apply this in their personal lives because of this. It really depends on a person's personality.

If its not that enough then it would really be just that right that you should really know on what are the things that you should  gonna do on which we would really be sensibly be trying out to look for another source of income. This is why some people would really be that having those kind of plans and having those kind of assumptions that they would really be able to make themselves having that upgraded life status if they would really be deciding on making such step on which it isnt really that bad or something recommended on doing so. There are really just those people who are really that too lazy on doing things on which they do really believe that they would really be able to make themselves believe that they could be easily be able to survive without trying to look out that they are really just that basically making themselves
stagnant and on the time that they are experiencing problems then this is where they would be starting on moving and its already late.

I wholeheartedly echo the sentiments regarding the pivotal position of monetary schooling in shaping people for a financially impartial destiny. It is disconcerting that, as of now, our colleges often forget about this crucial existence ability. I emphasize the need for a paradigm shift in our schooling structures. The assertion that economic schooling can be received via enjoy holds benefit, but formal training have to be the cornerstone.

Robert Kiyosaki's "Rich Dad Poor Dad" succinctly encapsulates the transformative energy of financial information. The dichotomy presented therein underscores the urgency for a curriculum that transcends conventional roles and empowers people to make sound monetary choices. The global perspective on this depend is essential—while strides had been made in a few regions, a unified effort is needed to make sure that monetary literacy becomes a essential aspect of schooling worldwide.

Moreover, incorporating economic education into college curricula is not pretty much personal enrichment. It's a strategic pass to reinforce our societies in opposition to economic pitfalls, equipping people with the talents necessary to navigate an increasingly more complicated financial landscape. As we engage on this discussion, allow us to discover how we will collectively suggest for the combination of complete financial schooling into educational systems, making sure that destiny generations are nicely-organized for the demanding situations and possibilities that lie ahead.

That makes me wonder too... Elementary or high school day, I think it's too early for kids to deeply understand how important financial literacy is. But when you reach college, you'll take different path and those subjects being offered are based on the major you will take. So other majors aside from business-related majors won't prioritize teaching students financial literacy. But the thing is, having financial knowledge is so beneficial for people in the real world, regardless of your major and what you do for a living. Schools and universities mostly focuses on computing math and numbers because they say math is everywhere but not the importance of having enough knowledge in handling finances or money.  Lot of schools only provide seminars or webinar regarding finances but it would probably make a big difference when school starts educating students about financial literacy.