Financial Education

[Debashis]

I feel financial education should be there as a mandatory subject in college irrespective of the degree we are undergoing. Financial literacy is one the most important things that people vastly lack. They are working day and night for money but they don't know how to get it to work in the right way, how to manage it, how to make more out of whatever they are earning and make the most out of it and gift themselves the best quality of life they can. Feel free to share your thoughts on it.

 

[Grant]

How to deal with money, how to save, how to invest, how to do taxes, how to apply for loans, etc. Every school in the world should be teaching their students about money and every aspect around it. If they actually did that in school, we would have a lot more people with the needed knowledge to take care of their own money. But so many people aren't taught these necessary things, and in turn don't know where to begin or what to do half the time.

 

[Riberet19]

I feel financial education should be there as a mandatory subject in college irrespective of the degree we are undergoing. Financial literacy is one the most important things that people vastly lack. They are working day and night for money but they don't know how to get it to work in the right way, how to manage it, how to make more out of whatever they are earning and make the most out of it and gift themselves the best quality of life they can. Feel free to share your thoughts on it.

I think there is a thread debating this point in the forum, but it doesn't matter, it's always good to reopen debates, I think financial education should be mandatory in schools to be able to teach students about money, how to manage it, issues related to savings and investment, wealth management and others, but for some strange reason with which we could conspire a lot, they don't.

The only solution to this is to study personal finance on your own and try to educate yourself to learn how to manage better your money, this is essential to have healthy finances and grow economically as time goes by, since I sincerely believe that educational institutions will not take care of this.

 

[Debashis]

How to deal with money, how to save, how to invest, how to do taxes, how to apply for loans, etc. Every school in the world should be teaching their students about money and every aspect around it. If they actually did that in school, we would have a lot more people with the needed knowledge to take care of their own money. But so many people aren't taught these necessary things, and in turn don't know where to begin or what to do half the time.

True! How did I miss taxes! It's such a pain for people who have no knowledge about it which is why they end up paying money to Chartered Accountants and get their tax returns filed to save the most.

I think there is a thread debating this point in the forum, but it doesn't matter, it's always good to reopen debates, I think financial education should be mandatory in schools to be able to teach students about money, how to manage it, issues related to savings and investment, wealth management and others, but for some strange reason with which we could conspire a lot, they don't.

The only solution to this is to study personal finance on your own and try to educate yourself to learn how to manage better your money, this is essential to have healthy finances and grow economically as time goes by, since I sincerely believe that educational institutions will not take care of this.

Oh I didn't realize it while creating the thread. Somehow it didn't appear in the similar threads list. 😅 Anyway, about your point on educational institutes not taking care of it, I feel the government won't make it happen because they don't want everyone to be financially educated. Because then there won't be people who will be poor. If everyone is rich, who will do the work that the poor do? Huge conspiracy theory lies within it.

 

[glitch]

I think you should be educated on this BEFORE going to college. The fact that these banks are able to give out massive loans to 18 year olds with little to no income coming in but a 25 year old married couple has to be vetted for a mortgage loan drives me insane.

 

[Kane]

Generally speaking, you will be studying finances only when you choose to study business, finance, or investment in your school and colleges. If you choose to study science, you will not have access to finance study. I also believe tat finance should be a mandatory subject in schools and colleges.

 

[Frank]

I think you should be educated on this BEFORE going to college. The fact that these banks are able to give out massive loans to 18 year olds with little to no income coming in but a 25 year old married couple has to be vetted for a mortgage loan drives me insane.

To me, it doesn't matter when you get financial education, the most important thing is to get it before you are 25. There are stages of life where you will be expected to make important decisions and when it comes to finance, you should sure be ready to learn it now or learn it the hard way later.

 

[Kane]

Interestingly, in our country, the central banks in partnership of government frequently launches financial literacy programs, especially in the rural areas, for adults