Some people say that all secondary and higher secondary school students should be taught how to manage money as it is an important life skill.Do you agree or disagree with this argument?
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It is indeed a fact that managing money is an important skill of life and it has to be acquired by every human being on this earth. However, the time of learning this skill is also extremely important. I think adolescence is an inappropriate age to grasp the insights of financial management.
There are various factors which support the thought that high school children should not learn the aspects of money management. Firstly, owing to their age, they are not mature enough to understand the fundaments of managing money. Secondly, there are chances that if they develop interest in earning money, they may digress heavily towards increasing their financial wealth. This can lead to a reduction in importance given to moral values, academic subjects and tertiary education.
Thirdly, some people assert that learning how to manage money does have some benefits. Acquisition of these at an early at an early age might help children to plan for their future. Moreover, they can understand the value of money and this indeed can help them in reducing overspending, keep them away from bad habits like addictions and motivation them to keep a check on extravagant demands from their parents.
Finally, even though learning about managing money helps school going children in understanding its value, they are relatively premature to grasp the fundamentals of it and hence, I firmly believe that it is not a good idea to teach money management skills to high school students.
Thanks to Parthesh Thakkar.