Financial Literacy: A Life Skill That Should Be Required by Amerie

Financial Literacy: A Life Skill That Should Be Required by Amerie - June 2025 Scholarship Essay

High schools need to establish financial literacy as a fundamental subject that every student must study. The essential nature of financial abilities equals reading and writing proficiency because many students lack basic banking skills along with credit knowledge and tax preparation abilities and budgeting expertise at graduation. A mandatory financial literacy program will provide students with essential knowledge that they need for their entire lifetime regardless of their future profession.

First, financial literacy directly prepares students for adulthood. Young adults experience financial challenges because their high schools failed to teach them fundamental money management skills. A mandatory personal finance class would instruct students about essential topics which include budgeting and saving and investing and credit score management and debt control and retirement planning. The skills presented here become necessary for any individual who plans to pursue college or work or establish their business venture. The mandatory implementation of this course at schools would guarantee students receive necessary training for responsible financial decision-making.

The implementation of financial literacy requirements works to establish economic equality. Students from affluent families learn financial skills from their parents but lower-income students lack similar exposure. A mandatory financial literacy course would create equality by offering each student identical educational resources to grasp and regulate their financial destiny. Students will gain self-assurance to select wise decisions while protecting themselves from financial pitfalls which will help them establish independent financial status.

The early introduction of financial literacy education serves as a protective measure against long-term financial problems. Young adults who do not understand personal finance concepts tend to misuse credit which leads them to debt problems and postpones their ability to purchase homes and save for retirement. A 2022 TIAA Institute-GFLEC survey found that basic financial literacy questions correctly answered by less than half of U.S. adults. This evidence demonstrates how knowledge deficiencies start early in life before expanding throughout adulthood. The implementation of financial literacy as a high school requirement functions as a protective measure which aims to reduce financial difficulties that extend across multiple generations.

Financial literacy education creates benefits that advance academic progress and career development. Knowledge about student loan applications and paycheck comprehension along with insurance comparison skills proves necessary for both students in college and those entering vocational fields. People who have financial literacy skills create a stronger economy through their contributions and also reduce their need for public assistance programs.

Financial literacy should not exist as an optional subject. All students need this life skill because it will serve them regardless of their future plans. The requirement for high school students to learn financial literacy will protect them from typical financial problems and create an informed generation of responsible adults. Financial literacy as a required class stands as a mandatory educational necessity rather than an optional educational choice.