Prompt: Today’s schools should teach their students how to survive financially in the world today. To what extent do you agree or disagree with this statement?

Financial management is considered to be one of the vital skills in the modern world. Many people have an opinion that schools must provide basic lessons to students pertaining to this topic. I completely agree with this argument because of two reasons which will be explained below. Ċ Firstly, learning money management starting from a young age is a great way to inculcate that skill in children. Basic skills such as saving money and spending it wisely are excellent ways to teach them how to handle the money wisely. Several studies consistently proved that the skills, people learn at their young age, withstand with them throughout their lifetime. For instance, a number of offspring saves money in piggy banks as a hobby and when they enter in adult stage, they continue this hobby by saving money in banks. Therefore, it is evident that studying financial management starting from primary schools helps people throughout their life. Ċ Similarly, the current world is going through a critical financial crisis. Due to that, practically experienced financial professionals are in high demand in every nation. If students attain knowledge in finance from an early age, they develop and nurture their practical as well as theoretical skills in that specific field, which encourage them to consider accounting as their future career. As per a recent survey by Money magazine among 100 experts in accounting field, more than 22% of them learned the basic financial skills from their parents or teachers during their early years. Because of this, effective money management is an essential skill that must be included in the school syllabus. Ċ To conclude, I firmly believe that basic knowledge about managing wealth should be included in school curriculum, which support them to understand the value of effective management of money. Moreover, this approach attracts many children into the field of economics that may lead to the birth of multifarious financial experts around the world.