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Why Financial Freedom Should Be Taught in Schools

Introduction: The Importance of Financial Education in Schools

Everyone should have financial education as a life skill. It is the skill of handling money, making the right decisions concerning the same and preparing for the future. However, financial education is not embraced in many schools, and therefore, many students leave campus financially unprepared. This lack of financial education has resulted in a generation of young people who are buried in debt, have a poor credit report, and are generally financially unstable.

The Current State of Financial Education in Schools

The present situation regarding financial education in schools is not good. A survey by the National Financial Educators Council found that only 17 states in the US make high school students take a personal finance course. Moreover, 80% of teachers are not comfortable with teaching financial education, and 88% of students feel that they are not ready to handle their finances after graduation.

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The Benefits of Teaching Financial Freedom in Schools

There are many advantages of incorporating financial freedom in schools. First of all, it gives students the knowledge that will allow them to handle their money well. This includes budgeting, and both the acquisition and dissemination of wealth. Secondly, it assists students in making the right decisions concerning the money they will use. This includes the consequences of borrowing, using credit cards, and investing. Thirdly, it assists students in planning for the future. This includes setting financial goals, creating a retirement plan, and preparing for emergencies. Finally, it assists students in gaining a proper mindset towards the money they receive.

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The Negative Consequences of Ignoring Financial Education

The consequences of not providing financial education are adverse to individuals and society in general. First, it results in financial uncertainty. Second, it results in financial ignorance. Third, it results in economic uncertainty. Fourth, it results in social injustice.

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Strategies for Implementing Financial Education in Schools

There are several strategies for implementing financial education in schools. Firstly, schools can incorporate financial education into the curriculum. This includes creating a personal finance course, integrating financial education into existing courses, and providing financial education resources to teachers. Secondly, schools can partner with financial institutions and organizations to provide financial education resources to students. This includes financial literacy workshops, financial coaching, and financial education materials. Thirdly, schools can provide financial education resources to parents. This includes hosting financial education workshops for parents, providing financial education materials to parents, and partnering with financial institutions to provide financial education resources to parents.

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Conclusion: The Need for Financial Education in Today's Society

In conclusion, financial education is an essential life skill that everyone should acquire. Hence, it is crucial to include the topic of financial freedom in schools so that students can learn how to handle their money well, make the right decisions concerning money, for the future, and, most importantly, develop positive money attitudes.

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