Financial management is one of the critical skills that people do not learn at an early stage, which leads to most adults facing financial anxiety — having students taught at a younger age promotes financial literacy and equips them with solid money habits. Upon developing this habit, students grow up with a trait and skill that would help avoid mistakes that may lead to lifelong money struggles (Prihartono & Asandimitra 2018). No one is born with the innate ability to manage money and acquire skills that may not be taught at home, which are relevant in building wealth and dealing with significant life goals. Unfortunately, the current education system fails to impart financial discipline to young students.
The most appropriate grade for children to be exposed to financial discipline behavior is grade 9. In the ninth grade, students’ level of mental maturity is said to be the best, and they can reason out how to manage available resources (Sari, Priantinah & Aisyah, 2018). Teaching them before they enter college helps them to become independent young adults who achieve financial security and prosperity. When simple principles are introduced to the young generation, this allows them to develop critical thinking related to finance.
The concept of financial management should be taught for a minimum of one year, which offers a chance for instructors to evaluate the credibility of financial behaviors developed by students and can assist in monitoring the progress made throughout the session. With this kind of knowledge, many could have come out of high school having great ideas about financial behaviors (Ameliawati & Setiyani, 2018). I would have significantly benefited from the financial skills since it could have helped me in living a loan-free life that purpose in making financial decisions that are more prudent in life. In addition, it could have called for economic independence for more college students rather than depending on parents and scholarships.
Ameliawati, M., & Setiyani, R. (2018). The influence of financial attitude, financial socialization, and financial experience on financial management behavior with financial literacy as the mediation variable. KnE Social Sciences, 3(10), 811. Web.
Prihartono, M. R., & Asandimitra, N. (2018). Analysis factors influencing financial management behavior. International Journal of Academic Research in Business and Social Sciences, 8(8). Web.
Sari, R., Priantinah, D., & Aisyah, M. (2018). Financial well-being among college students: The role of financial literacy and financial coping behavior. Character Education for 21st Century Global Citizens, 231-237. Web.