ARTICLES

A renowned strategist, Mac Duke, has defined financial education as “more valuable than money.” And, this indeed stands true because managing money is mostly considered to be learnt in the later stages of life, mostly when one enters the job market. But, financial education is one of the most crucial subjects which should be taught at early stages of life. Just like, how other subjects taught in school help us transform and evolve. It is as important as reading and writing. 

 

Wondering why? It’s because:

• We spend approximately 16 years of our lives gaining knowledge which eventually helps us demand good salaries. Therefore, adding subjects like financial literacy to the curriculum may add value to the lives of kids. Like other subjects such as science or history, financial literacy can be taught to students in schools, and major emphasis should be on giving practical exposure to the students so that they can use their money management skills.

• It will help the students become independent and empower them with basic knowledge of investment options, budgeting, credit, savings, taxes, financial markets, etc.

• It will help inculcate a habit for life and also navigate financial life effectively and prevent falling prey to dubious schemes, and debt traps. 

Children are just like wet clay, you can shape them as you want. Therefore, having to learn a skill which plays a vital role in shaping your future, would be a beautiful step. However, we strongly feel that until this becomes a mandate, financial education should start from home. By simply letting your child understand the small budgets as per their age. The kids of today are far quicker learners and tech-savvy, therefore, it will be quite easy for parents to teach them financial discipline.