Student Spectrums

Ruqaya Moussaoui is a 9th grade student at Ilm Academy who wishes to pursue medicine as her career.

I believe that there is a common misconception that the word ‘literacy’ refers to the ability to read and write. But rather, it includes comprehending the functions of modern society. Financial literacy is crucial, especially in the 21st century. According to an annual survey, more than half of US adults lack financial skills. If citizens are unaware of how to budget, handle debt, save, and invest, they have a higher chance of falling into financial instability; which could impact future generations. In order to have higher levels of country-wide literacy, the education of finances in high school is vital.

After high school, most high schoolers are thrust into the real world. Without the proper skills, managing and navigating life becomes more difficult. Some of us might lack the knowledge required to write a check, file taxes, take out a loan safely, and overall manage their money successfully. A 2017 case summary shows how the presence of financial education in high school improves credit scores and overall financial stability in young adults. I am glad that as a high school student, I’ve at least been somewhat informed about the financial world than other high schoolers, and I continue to discover it in my own time too. I feel that this is a major problem. School shouldn’t simply be an institution where students gain solely the knowledge required to graduate, but also where they should acquire valuable life skills. 

 According to a 2021 study by the Global Financial Literacy Excellence Center, countries with higher rates of financial literacy, are in a better economic state and have lower percentages of poverty. Knowledge is a stepping stone to success. And once most of a population is aware of the rights and abilities concerning money, we are more likely to make educated money decisions. It also reduces dependency on the public welfare system and as a result, promotes hard work. A survey by Intuit also reveals that while high school students in the U.S. are eager to learn about personal finance, many do not have access to such courses in their schools. This is a huge issue, because we students have the desire to learn, yet lack access. It’s acting as a barrier for growth and success. Lacking financial skills is like walking in the dark, leaving us vulnerable to poor decisions, financial traps, and long-term instability without a clear path to security or success. That is exactly what the education system is doing to the majority of high schoolers in the country.

This skill doesn’t have to be expensive or special. Any student or teacher can do proper research and hold a session with students in order to educate them. It doesn’t have to be grand, simply something. I’ve interacted with others that have little to know knowledge about finances and it truly is shocking. Some people don’t know how to even swipe a card or spend wisely. The American Education system is already looked down on. So shouldn’t we try and fix our shattered reputation? Education doesn’t only include math, science, and history. It’s so much more. Our world runs on the exchange of money. And without knowing how money works, how can we know the world?

Even with all of this evidence, most high schools don’t value financial education as much as necessary. If schools continue to ignore the importance of this concept, the next generation will be worse than illiterate.