The Importance of Personal Finance by Maria

The Importance of Personal Finance by Maria - November 2021 Scholarship Essay

Maria Ananiadis
Varsity Tutors Scholarship Essay
14 November 2021
The Importance of Personal Finance
Have you ever thought about why personal finance is an essential aspect of your life? Personal finance is managing money as well as saving and investing. This is a substantial step into adulthood. Teaching personal finance will help young highschoolers to achieve financial independence faster, develop healthier spending habits, and better prepare for larger expenses later on. When students take personal finance in school it will help them learn how to make their own decisions about their money. Knowing what personal finance is and why it is essential will help students learn about finance, understand the importance of it, and why it should be taught.
Teaching teens how personal finance works prepares them for the real world. Learning about monthly expenses and budgeting money is a very important aspect of growing up. In high school teens are at the age where they need to start learning about financial decisions, and the best way to teach that is through a personal finance course. Most colleges do not offer personal financing courses, this is why personal finance should be taught in high school. As students get older they are expected to know how to finance and how those financial decisions can impact their lives, so teaching the students in high school will get them ready for their future years. If they do not learn at a young age, then how will they learn when it is too late? Being able to understand incomes, investments, and budgeting will help one to be financially stable.
Learning personal finance in high school will help students build a strong foundation of financial practices at an early age. Once financial trouble starts, it is hard to get out of, so if they learn how to recover from financial problems when they are in high school, they will be more prepared for the worst. Not being taught how to be financially stable can trouble a lot of things. When students understand the repercussions of being financially unstable, it encourages them to avoid financial instability at all costs. Therefore, being educated at a young age on how and why it is so important to be financially stable will teach teens how to steer clear of those financial problems.
Personal financing is such an important part of life and learning how finances work is a great step into the future. Learning personal finance at a young age will help develop the skills of what it is like to be an adult dealing with finances. There are so many factors that go along with personal finance, and if students are not taught it in high school then they have a greater chance of ending up financially unstable. Teaching a finance class at the high school level will prepare students for the future.