Should We Send Children Into the Real World With No "Adult" Skills? by Ashley
Ashley's entry into Varsity Tutor's November 2021 scholarship contest
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Should We Send Children Into the Real World With No "Adult" Skills? by Ashley - November 2021 Scholarship Essay
Improper money management can make a rich man poor, while proper money management can make a poor man rich. It is important to understand how to use money wisely and how to save money. Although money management is so important to an individual's livelihood, in every school I have attended taking a money management class was a choice and the classes often felt like they were afterthoughts. I think money management class deserves more emphasis in school because proper financial management is an important component of becoming a functioning member of society.
It was supposed to be a fun day. I was on my way to pick my boyfriend up from work for a date to the mall since we both just got paid. I glanced down at my phone to type in the directions to his work. When I looked up, it was too late. I was already on the way to crashing into a mailbox. I tried my best to swerve out of the way but ended up causing more damage down the side of my car. My first thought was “how am I going to pay for this?”
As quickly as the day started, it was ruined. I had to call my parents for help as I was too scared to drive my car. The total amount of damages was 3,000$. I had 73.08$ in my checking account and nothing in my savings account. There was no way to get my car repaired without asking for help from my parents whose first question was “why do you have no money?” In other words, it was an extremely embarrassing experience. For the next year and a half, I spent a majority of my paychecks on paying my parents back the expenses I owed.
After that mortifying experience, I learned how to save money and I even began to invest my money in stocks and bonds after doing research and choosing to take a financial class offered at my school. I have come a long way thanks to my experience with poor money management. I am thankful it was not something more serious and I had people in my life to help me.
In all, it is important for schools to place more emphasis on financial classes. In fact, it is unfair to force children 14 years of their life in public school without giving them the proper education they need to function properly as an adult. Every individual should leave high school understanding credit, savings, and investing since they are basic adult skills. Others may not be as lucky as I was and may have a more expensive debt with no savings to back them up.