Money Management by SHAHRAIZ

Money Management by SHAHRAIZ - January 2023 Scholarship Essay

Money management is a crucial skill that every student should learn to be successful in life. Unfortunately, many schools do not offer classes or programs that teach students about personal finance and money management. To address this education gap, schools should implement an extracurricular class that focuses on money management.

This class would be designed to teach students about the basics of personal finance, such as budgeting, saving, investing, and credit management. The class would be taught by a financial expert who would use a variety of teaching methods to ensure that students understand the material. For example, students could participate in interactive activities and simulations that help them understand the concepts of budgeting and saving. They could also learn about different types of investment vehicles and how to make informed decisions about where to invest their money.
The class would also cover important topics such as credit management and how to avoid common financial pitfalls. Students would learn about the importance of building good credit and how to avoid common mistakes, such as falling into debt or using credit cards irresponsibly. Additionally, the class would also cover issues related to taxes and how to file taxes correctly.

In addition to providing students with valuable knowledge and skills, this extracurricular class would also help students to develop important life skills. For example, students would learn how to set goals and create plans to achieve them. They would also learn how to think critically and make informed decisions about their money. Furthermore, this class would also help students to develop discipline and self-control, which are essential for achieving financial success.

Overall, implementing an extracurricular class on money management in schools would be a valuable addition to the curriculum. It would provide students with the knowledge and skills they need to make informed decisions about their money, and would also help them to develop important life skills. By teaching students about personal finance at a young age, we can ensure that they are better prepared to navigate the financial challenges they will face in the future.