Financial Literacy in High School by Leah

Financial Literacy in High School by Leah - January 2023 Scholarship Essay

A course I feel that should be an elective or required by high schools is Financial Literacy. This should be a course that Juniors or Seniors take because this is time, we are starting to think about what our lives may be like after high school. Many high school students have no knowledge of Financial Literacy or what it even means. We have no concept of debt management, how to budget or even how to read a bank statement. Saving for the future isn’t something we worry about because we live in the present.

Those of us going to college might have a minimal understanding of how to manage our personal finances but many of us do not. Our parents take care of most things for us and money falls under that blanket. Adults try to have the money conversation but as teenagers, we don’t fully grasp that concept and is something we feel we have time to figure out. Many of us have jobs and still have no idea what taxes are taken out of our checks. I feel that having a required class to stress the importance of financial literacy could help minimize some of the stress we feel as we prepared to leave our parents homes and start our journey in the real world.

A task as simple as replacing your debit card is stressful and daunting if you don’t know what the bank teller is asking you for. Many of us have no idea what the difference between a savings account and a checking account. Schools should require this for all students and start the conversation as early as possible so that we are better prepared to face our lives as adults.