The Importance of Financial Literacy by Lored

The Importance of Financial Literacy by Lored - January 2023 Scholarship Essay

One elective or extracurricular activity that I believe should be a required class is financial literacy. In today's society, it is essential for individuals to be financially responsible and knowledgeable in order to make sound financial decisions. However, many students graduate high school without a basic understanding of personal finance, leaving them ill-prepared to manage their money effectively.

Financial literacy is not just about learning how to balance a checkbook or invest in stocks. It encompasses a wide range of topics, including budgeting, saving, credit, debt, and retirement planning. A financial literacy class would provide students with the tools and knowledge they need to make informed decisions about their money, and to set themselves up for financial success in the future.

One of the main reasons why financial literacy should be a required class is that it is not something that can easily be learned through experience. While some students may have parents or guardians who teach them about personal finance, many others do not. Furthermore, many students may not have the opportunity to gain real-world experience with financial management until they are out of school and on their own. A required financial literacy class would ensure that all students have the opportunity to learn about personal finance before they graduate.

Another reason why financial literacy should be a required class is that it is a subject that is not just relevant to students' immediate future, but also to their long-term financial well-being. Without a basic understanding of personal finance, students may be more likely to fall into debt, make poor investments, or miss out on opportunities to save for retirement. By providing students with the knowledge and skills they need to manage their money effectively, a financial literacy class can help set them up for financial success for the rest of their lives.

Additionally, a financial literacy class would provide students with a skill set that is in high demand in the workforce. Many employers today are looking for employees who are financially literate, as they are more likely to make sound financial decisions and be financially responsible. By providing students with a solid foundation in personal finance, a financial literacy class would help them to stand out as candidates for jobs and internships.

In conclusion, financial literacy is an essential skill that all students should have before they graduate high school. A financial literacy class would provide students with the tools and knowledge they need to make informed decisions about their money, and to set themselves up for financial success in the future. Furthermore, a financial literacy class would provide students with a skill set that is in high demand in the workforce, helping them to stand out as candidates for jobs and internships. Therefore, I firmly believe that financial literacy should be a required class for all high school students.