Financial Literacy is best learned now than later. by Jamiya

Financial Literacy is best learned now than later. by Jamiya - June 2025 Scholarship Essay

If I could turn any elective or extracurricular activity into a required class, it would be financial literacy. Despite its crucial role in nearly every aspect of adult life, personal finance is often overlooked in high school curriculums. Learning how to manage money—how to budget, save, invest, pay taxes, and use credit responsibly—is essential, yet many students graduate without even a basic understanding of how to handle real-world finances. Making financial literacy a required class would empower students to make informed decisions and build a stable future.
I was fortunate to be put into finance and market class at my high school, and the experience opened my eyes. We covered topics like creating a personal budget, understanding credit scores, and the basics of investing. I realized how much I didn’t know—and how much most of my peers didn’t either. We were learning calculus and analyzing classic literature, but few of us knew how to file a tax return or read a pay stub. That gap can have long-term consequences, especially for students from low-income or first-generation households who may not have financial guidance at home.
One reason financial literacy should be required is that money decisions start early. As teens, many of us begin earning income from part-time jobs. Without proper knowledge, we might spend impulsively, ignore saving, or open credit accounts without understanding interest or debt. A required class would teach students how to manage their income wisely—how to set short- and long-term financial goals, track expenses, and understand the impact of financial choices over time.
Furthermore, a financial literacy course would help students avoid common pitfalls like student loan debt, poor credit management, or falling victim to scams. Many young adults take on massive student loans without fully understanding repayment terms or long-term implications. If schools prepared us to analyze those decisions like we analyze math problems or historical events, fewer students would face financial hardship in college and beyond.
Making financial literacy a requirement would also contribute to closing economic inequality. Knowledge is power, and financial knowledge gives students the tools to build wealth, avoid debt traps, and break cycles of poverty. It levels the playing field, giving all students—regardless of background—the opportunity to succeed financially.
Some might argue that financial literacy is a “life skill,” not an academic subject. But that’s exactly why it belongs in the classroom. Schools already teach life skills like writing, problem-solving, and teamwork. Money management should be seen in the same light: not optional, but essential.
If we want to prepare students for the real world, we have to teach them how to live in it. That includes how to manage a paycheck, file taxes, understand interest rates, and save for retirement—even if retirement feels a lifetime away. These are skills every adult needs, and the earlier we learn them, the better off we’ll be.
In conclusion, financial literacy is more than just an elective—it’s a foundation for independence, responsibility, and future success. Making it a required class would not only benefit individual students, but also strengthen our communities and economy as a whole. A financially informed generation is a powerful one, and it all starts in the classroom.