Hello everyone and how are you all doing today? I'm here for a topic from @sahmie about financial literacy and I propose the motion that financial literacy should be taught in schools.
Assuming you want to purchase an item and you have small amount of money, and you don't know how to manage the funds you have, it'll finish and you'll be left stranded.
FINANCE
To invest, borrow, lend, save, forecast are all activities that involved the management of money. Also, activities that supports livelihood is termed Finance.
Finance supports businesses, individuals, government. In other to purchase anything, you need finance. The process of raising capital or funds for different kinds of expenditure is finance.
FINANCIAL LITERACY
This is the understanding of how to earn, spend, manage, invest, lend, etc of funds and the critical impact it has on the ability of students to make good choices.
Being a financial literate enables one to be prepared for some financial obstacles, difficulties, roadblocks and needs which helps reduce the chances of economic dryness or distress. Achieving financial literacy is difficult in today's society during to the storms of life such as health insurance, mortgages, students loans, credit cards, investments, etc.
SHOULD SCHOOLS TEACH FINANCIAL LITERACY AS A MANDATORY SUBJECT?
My opinion is, yes, schools should teach financial literacy as a mandatory subject because of its benefits.
Teaching financial literacy in schools is a very effective and positive way to enable students have good long-term financial freedom and health.
With knowledge from bring taught in schools, students can learn how to be innovative in their spending, investing and increasing their savings and avoiding or managing their debts.
To the few benefits/importancecof why students should be taught financial literacy;
It allows one make positive decision when it comes to finances.
It enables one have effective management of funds.
Ability to be equipped to reach financial stability.
It helps with reduction/management of expenses.
Makes one have less/minimum financial anxiety or stress.
Allows one make positive decision in terms of loans or investment.
Financial literacy impacts our lives in a positive way is what I know from my few points. I hope I have been able to give reasons as to why financial literacy should be taught in schools.
I would like to invite @josepha, @zory23 and @madilyn02 to join this contest. Thank you.