Why Financial Management Should Be A Requirement In All Schools by Audrey

Audrey's entry into Varsity Tutor's January 2023 scholarship contest

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Why Financial Management Should Be A Requirement In All Schools by Audrey - January 2023 Scholarship Essay

Did you know that in a recent study completed by Experion it was found that 340 million Americans are currently in some form of debt? Well, if you did not, this is an abundance of people. This goes to show that most people are in some way in debt. If a financial management class was required in schools, this number would decrease dramatically.
The stage of life after high school is a particularly vulnerable time for people. People are constantly spending money on things that they can not afford because they want to fit in. A report recently found that 1 in 5 adults from the ages 18-24 with a credit record have some type of debt in collections. If a financial management class was mandatory in high school these young adults would not be as sucebtable to debt as they are and would know how to manage their money better which would overall benefit then entire economy.
All in all, a financial management class would have many benefits. These benefits would include, financial stability from a young age, lowering debt, economic boost. It would allow the young generation of our nation to grow in their money from a young age.

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