Many students leave high schools without knowing how to manage their money What are the reasons and how can they improve their understanding of financial management

In today's society, there is an ever - increasing number of young learners leaving high schools with little or no knowledge of personal financial management. The reasons behind this phenomenon stem from low financial literacy, which can be tackled by some measures below.

there are various reasons why the youngsters lakc a basic and vital unnderstading of how their finances to be managed. Firstly, most of them have spent their childhood living at home with parents, which almost charges them nothing. As a result, there is no need for them to pay the bills or be conscious of spending habits, let alone earning a living. Secondly, the educational system pay little attention on providing financial management courses in the curriculum. they instead focus on teaching academic subjects such as maths, literature and physics while ignoring the accountability of training essential soft-skills like money management. this will definitely lead children to make financial-related mistakes or even get in trouble with debt problem in the adulthood

Fortunately, these scenerio mentioned above is by no means irreversable. One effective measure is that parents should equip their children better with financial knowledge. this can be done by cutting down their pocket money or encouraging them to take a part time job. After some times of living on a shoestring, they will certainly change their attitude about personal financial management and be more aware of keeping track of money. Another approach worth considering is that high schools should not only concentrate on teaching compulsory subjects but also make efforts to support financial learning in young people. By doing so, they are more likely to acquire appropriate knowledge about how their personal finances should be earned, budgeted and saved, which may play an important role in their life later

In conclusion, children lack the understanding of financial management due to the negligence of parents and institutions, which can only be solved if both of them take more responsibility for offering money – related education to high school leavers