Students leave high school without learning the way how to manage
their money. What are the reasons and solutions of this issue?
It is true that numerous high school leavers have not equipped with the
knowledge and skills to manage their own personal finances. There are
various reasons for this, but measures could be taken to tackle the
problem.
To commence with, one of the leading causes of this trend is that
overindulgence and overprotection from parents. The majority of high
school graduates are usually live with their parents and are entirely
financially dependent upon them. Typically, parents provide their
offspring with expenditure in the form of pocket money; therefore, many
children take their parents' material support for granted. As high school
leavers only know how to receive money instead of earning or saving it
wisely, they are unaware of the paramount importance of money and
tend to be lavish money upon unnecessary purchases without
forethought.
Another cause is that the educational system places more emphasis on
theoretical subjects like math and science, whereas essential soft skills,
including personal financial management, are being neglected. As a
result, the student is poorly provided with the knowledge and
understanding of managing money.
However, solutions can be considered in order to help students deal with
this problem. Firstly, educators should include money managing lessons
into the school curriculum under the form of an optional subject. This
subject able to raise children's perception of money's value as well as
various methods to balance their expenditure and income after leaving
school and enter employment. Children, therefore, gradually form-wise
spending habits and skills to control their spending.
The second possible solution that could be taken to help curb this
problem is through education at home. Parents should take responsibility
to ensure that their offspring are adequately educated with the
knowledge and skill to maintain their financial situation after graduating
from high school.
In conclusion, it is clear that there are various reasons for the lack of
financial management skills of the high school leavers, and steps need to
be taken to counteract this problem.