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Money management is one of the key aspects of life, while most people say all secondary school students must be educated on how to handle money, as it is one of the pivotal skills to succeed in life. In this essay, I will discuss both the positives and negatives of money management
On the one hand, people nowadays became extravagant in spending; however, early learnings of how to save money could be beneficial in future, besides they can plan their investments strategically from which they can yield more profits. To illustrate, investment advisors like Warren Buffet says people should spend their money after savings, yet these principals needs to be inculcated in early schooling through which it becomes a habit. However, Indian curriculum is much more focussed on science and history.
On the other hand, there are other aspects of life which needs attention like career focus and personality development. People who start earning early in their career become bit more spendthrift, as they have no idea how control money. Nevertheless, they start buying unnecessary things which can gather dust with no use. For instance, times magazine conducted a survey in which 90% of people voted they were unable to supervise their earnings. Furthermore, without proper knowledge on managing money can land themselves into debt trap, which can create mental problems.
To conclude, people need proper guidance on how to manage money, yet these rudimentary skills need to be introduced at high school level, in contrary this can make people more money minded in my opinion.
