Financial literacy – an ability to understand and manage financial matters effectively in order to make informed financial decisions – is a basic skill, essential for every individual, especially for students who are preparing to enter the workforce and will soon be responsible for managing their finances independently. Unfortunately, financial literacy among students is often inadequate, leading to poor financial decisions which can lead to long-term financial problems. One of the key reasons for the lack of financial literacy among students is the reluctance of schools to integrate financial education into their curriculum. Most schools focus on academic subjects and neglect the importance of teaching students how to manage money. This creates a gap in the education system, where students enter the real world without sufficient skills to plan, budget, and save their finances. It is, therefore, crucial for schools to prioritize financial education and make it an integral part of the curriculum. By equipping students with financial skills, we can help them to develop sound financial habits that will benefit them in the long run. Financial literacy education will also provide students with the confidence to make informed financial decisions, thereby avoiding financial pitfalls. Schools need to recognize this and integrate financial education into their curriculum. The government, private organizations, and individuals need to come together to provide resources and support to help students acquire financial skills and knowledge. This will enable them to make informed financial decisions, build a secure financial future, and live a financially secure life.
