Money here, Money There, Teaching Money Everywhere by Ana

Money here, Money There, Teaching Money Everywhere by Ana - July 2022 Scholarship Essay

I love money, you love money, we all love money! Money does not make people happy, but the lack of money can make you unhappy, which is why the education system should require every school across the country to have financial literacy classes.

There is no requirement in High school in the US that requires a financial literacy class. We have English, Maths, Science, PE, History, Government, and Economica to learn the basics. Students must take these classes in order to graduate and start their life. However, these classes will not help students with daily life skills, especially financial skills.

I have seen friends, family, and peers who have struggled with financial illiteracy due to a lack of knowledge of finance. I know about 90% of people in debt and have had to learn the hard way of financial struggle. I included struggle with debt, specifically student debt, one of the most common debts adults struggle to pay off. You see, we learn that you can take loans to pay for your school, car, house, and medical bills, but no one teaches you the long-term effects that it will cause on your future.

The education system needs help to prevent high school graduates from ending up in debt and learning how to save money, not just short-term savings but long-term investments; there need to be required classes that teach students about financial literacy. In the next ten years, I hope to see financial literacy classes that teach students the basics of managing money. This means saving, budgeting, and investing. Saving for University, Home owning, and having emergency savings. Investments like stocks, bonds, Traditional Roth IRA, Real Estate, etc. Reading financial books like "Rich Dad Poor Dad' or "The Phycology of Money."

Allowing students to take these classes will help them how to build credit, which is required before you apply for a loan, buy a car, or even to rent an apartment. It will also help future life skills one needs like paying taxes, writing a check, applying for financial assistance like FAFSA, or even making financial decisions. Students with this opportunity will have a better chance of making better financial choices and will be less likely to struggle with any financial problems they may face.

These are just a few things that I hope to see the education system change in the next ten years. The more we teach young students about financial literacy, the more it can help them in the future. This is an investment that the education system needs to make to help the next generation have better opportunities. It is a privilege to have an education, so why not help students become the best version of themselves by providing them with the best possibility for financial literacy classes.