Financial literacy should be prioritized in high schools as a core subject

by Jesus V.

As students approach graduation, they have acquired knowledge in various subjects such as mathematics, science, literature, and history. However, one crucial area that they often lack is financial literacy, the ability to manage personal finances effectively. Despite high school being known for preparing students for the real world, many graduates lack the essential real-world skills of financial literacy. Therefore, it is crucial that high schools prioritize financial literacy education as a core part of their curriculum. In this article, I will discuss the reasons why financial literacy education is necessary and essential, and how it can benefit graduates in their post-high school life.

First of all, mandatory financial literacy education is needed in the public high school curriculum because this is a skill actually required in adulthood, unlike many other subjects such as trigonometry or knowledge of obscure literature such as Beowulf. Money management skills are crucial for adult life, and it is a skill that should be taught in high schools as a core part of their curriculum. Many young adults struggle with managing their finances because they have never been taught how to do so effectively. This lack of knowledge can result in debt, financial insecurity, and even bankruptcy. With financial literacy education, students can learn important skills such as budgeting, saving, and investing, which can help them make better financial decisions in their personal and professional lives. For instance, they can learn about the importance of having an emergency fund and how to save for long-term goals like retirement. Therefore, high schools should prioritize financial literacy education to equip students with the skills they need to manage their finances effectively and avoid the pitfalls that come with financial mismanagement.

Secondly, financial literacy education can have a significant impact on the financial stability of graduates after high school. For an instance, quoted by State Superintendent Tony Thurmond, “Only 27 percent of California high school students attend schools that offer personal finance classes. Ensuring that all young Californians have exposure to financial literacy is a vital step in closing inequality gaps and providing the skills and resources to improve their lives overall.” Showing that many young adults find themselves struggling with debt, particularly student loans, which can take years or even decades to pay off. However, with proper financial literacy education, students can learn how to avoid excessive debt and manage their loans more effectively. They can also learn about the importance of saving and investing, which can help them build wealth over time. By reducing debt and increasing savings, graduates can be more financially stable and better prepared for the challenges of adulthood. Therefore, high schools should prioritize financial literacy education to give their students the tools they need to avoid financial pitfalls and achieve financial security.

Financial literacy education not only benefits individuals but also society as a whole. With greater financial literacy, individuals are better equipped to make informed financial decisions, which can lead to increased economic mobility. They are more likely to pursue higher education, start their own businesses, and invest in their future. This, in turn, can lead to a more prosperous society with a stronger economy. Financial literacy can also promote social mobility by reducing the wealth gap between individuals of different socioeconomic backgrounds. By providing financial education to all students, regardless of their background, we can ensure that everyone has access to the knowledge and tools they need to achieve financial success. In summary, financial literacy education can promote economic and social mobility and contribute to a better, more prosperous society. Therefore, high schools should prioritize financial literacy education to provide students with the skills they need to succeed both individually and as members of their community.

Financial literacy education is often overlooked in high school curriculums, with some arguing that it should not be prioritized as a core subject. Claiming that there are more fundamental subjects that students need to learn in order to have a well-rounded education. However, it is important to recognize that financial literacy is a crucial life skill that can have a significant impact on students' future success. While it is true that financial literacy can be learned through personal experiences and outside resources, the same can be said for all other subjects. In fact, many students may not have access to these outside resources, making it even more crucial that they receive financial literacy education in school. Additionally, high school is meant to prepare students for college and adult life, and having a strong foundation in financial literacy can help them make informed decisions about their finances and avoid financial pitfalls in the future. Therefore, financial literacy should be considered a core part of high school curriculum alongside other important subjects.

Students at Airport High School strongly advocate for prioritizing financial literacy education as a core subject. Their views are twofold. For example one student stated, “Lowkey I think that they should because I’m trying to make lots of money and with that class I can make lots more.” Firstly, they believe that such a class can empower and help them to achieve financial success. Expressing their aspirations to make significant amounts of money and ‘bank’, students recognize the potential benefits of a financial literacy course in providing and equipping them with the skills and knowledge necessary to generate wealth and manage it effectively in their High School and or Adult Years. They perceive this education as a practical means to increase their earning potential and achieve financial security.

Furthermore, students assert that financial literacy should be treated on par with other core subjects, such as mathematics and English language arts (ELA). For Example another student said, “I think they should just put that class as a core and students that fail the course are mandatory to have to take it again next year or the next semester or something,” showing that they argue that making financial literacy a mandatory course and imposing consequences for failure, such as mandatory retaking, would emphasize its importance and ensure that all students receive the necessary instruction. By integrating financial literacy into the core curriculum, students believe that it will receive the attention and resources required to adequately prepare them for the real-world financial challenges they will face.

Financial literacy should be made a core component of high school curriculum, as it can equip students with vital money management skills necessary for adult life. By prioritizing financial education, high schools can reduce debt and increase savings for graduates, promoting economic and social mobility and contributing to a better society. By prioritizing financial literacy education, high schools can equip students with vital money management skills that they can use in their personal and professional lives, promoting financial stability and contributing to a better society. It's time for high schools to recognize the importance of financial literacy education and prioritize it as a core part of their curriculum.