Beyond the Books: Teaching Dollars and Sense by Shea

Beyond the Books: Teaching Dollars and Sense by Shea - June 2025 Scholarship Essay

In today’s world, where credit cards, student loans, and online investing are as common as textbooks and calculators, financial literacy is no longer a luxury—it is a necessity. Yet, in most schools, personal finance remains an elective, often buried behind more traditional subjects. I firmly believe that financial literacy should be a required course for all high school students because it equips young people with practical skills, fosters responsible decision-making, and promotes long-term economic stability at both the personal and societal levels.
Many students graduate without knowing how to open a bank account, file taxes, or understand interest rates on student loans. While we learn how to solve equations and memorize historical facts, we are often left unprepared to manage a paycheck or avoid credit card debt. A required financial literacy course would bridge this gap by teaching students how to budget, save, invest, and understand the basics of insurance, credit, and taxes. These are life skills every student—regardless of career path—will need.
Introducing financial literacy as a required course can also improve decision-making in areas far beyond money. Learning to plan a budget teaches delayed gratification and goal setting. Understanding how interest compounds can lead to better choices about student loans. Even knowing the difference between needs and wants can influence lifestyle habits. These principles promote maturity and self-reliance, qualities that translate into better choices in all areas of life.
Some may argue that financial knowledge can be acquired at home or through experience. However, this assumes that all families are equipped to teach these concepts, which is not always the case. Socioeconomic disparities mean that some students may never have access to this information unless schools provide it. By making the course mandatory, we level the playing field and ensure every student leaves school with the tools to navigate adult life—regardless of their background.
Moreover, a financially literate generation can strengthen the economy. Students who understand saving and investing will be more prepared for retirement. Those who understand credit will avoid cycles of debt. Collectively, this reduces financial strain on social systems and builds a more resilient society. Informed consumers are less likely to fall for scams, make impulsive purchases, or suffer from financial anxiety. The ripple effects of this kind of education benefit everyone.
Personally, I’ve seen how a lack of financial education can create stress and setbacks. Many of my peers entered college with little understanding of student loans, interest rates, or budgeting, leading to decisions they now regret. I’ve taken the initiative to learn some of these topics independently, through books and online courses, but not every student has the time or motivation to do that. If this class were required, it would remove the guesswork and give students the confidence they need to start adulthood on the right foot.
In conclusion, financial literacy is not just an elective—it is a cornerstone of real-world success. Making it a mandatory class would prepare students for independent living, reduce financial inequality, and create a more informed and responsible generation. Schools have a duty to prepare students for life beyond the classroom. There is no better way to do that than by teaching them how to manage their money.