Lack of Financial Education for Adolescents and Young Adults

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In recent years, young adults and children are not able to use and manage their money wisely. Most students spend their money or their parents' money without fully understanding the concept of it. 

I believe that money and financial knowledge are as important to a person, in this day and age, as basic fundamental education. As students grow and start to earn money, it is hard for them to understand the complex system of finance such as credit, loans, and much more. When I was in high school, I did not know that there was a difference between a credit card and a debit card. However, after my dad explained to me the difference between a credit card and a debit card in 10th grade, I was able to manage my spending more efficiently. After that discussion, I was eager to learn more about money, wherein I was surprised by the complexity of money and the different ways to use it. If I had taken a course or class in high school or earlier, I would have known how to effectively earn, invest, and use my money.

As a college student, I still find it hard to fully grasp the various ways to handle money and the different ways to make more money. Only towards the end of my high school career, did I start to understand a bit of the financial industry. I find it crucial that a person know how to handle money as they know how to do algebra or know about the second world war. 

As a solution, I propose that high schools teach financial courses and classes as a part of attaining a GED/High School diploma. I think students should know the different aspects of money and the financial industry such as: various investment methods, varying bank loan technicalities, building credit score, doing taxes, and more. These courses need not be in depth, but rather an overview of the different ways of being smart with one's money. In addition, high schools could offer more in depth courses for students to learn more about the business industry as it is a major concept that people encounter on a daily basis. The more educated a person or student is in the finance industry, the better they will be able to be successful in attaining more capital and making major life decisions. There are countless aspects to the financial industry and money is central to all of it.

If we are able to educate the newer generations, the future of the world will be drastically changed. People will be able to make better financial decisions, resulting in less market crashes and scams. Unlike what happened in 2008, people will not allow the risk of sub-prime loans and can prevent future financial crises. With a change in the education system, I believe students will be able to positively influence the economy. 



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