Economics

Candidate’s Name: Jemima Fairbairn

Candidate’s Number:
Center Number: 150009
Subject: Economics
Territory: St Vincent and the Grenadines
School: St Vincent Girls High School
Form: 5 Integrated
Date: 29th February,
“Financial management should be a part of the
secondary school curriculum to help equip students to
make sound decisions in all aspects of their lives”

The researcher supports the motion that “Financial management should be a

part of the secondary school curriculum to help equip students to make sound

decisions in all aspects of their lives”. In researching financial literacy with respect

to students, the researcher has come across some interesting, actually shocking

statistics, which indicates, that as individuals need to triple our efforts in educating

our children about finances.in the researchers’ opinion schools and colleges

assume parents will teach this subjects at home, or they just don’t have the

resources to teach them, leaving our children completely helpless when it comes to

the subject of money and financial management. The bible states “Train up a child

in the way he should go, and when he is old he will not depart from it” Proverbs

22;6 in addition ‘Go to the ant and consider her ways and be wise Which, having

no chief, Officer or ruler, Prepares her food in the summer. And gathers her

provision in the harvest. ’ Proverbs 6;6-8.

“ A penny saved is a penny earned” Benjamin Franklin ,“You are not rich by

how much you spend but by how much you save” Laja Shoniran ,“If you earn
three pence and you did not save, even if you earn one shilling you will not save”

African proverb.

Financial Literacy is generally defined as understanding how money works,

the he ability to make appropriate decisions in managing your personal finances.

Being able to understand and analyze financial products in order to make smart

decisions about what to do with your money and the ability to make informed

decisions about your money. If as adults you can get students on the right track at

an early age, they're more likely going to be financially successful adults.Why not

teach students financial Literacy at an early stage instead of having them learn

through mistakes like you did? The researcher urges you to not pass on the

struggle. Although several classes may have opened the researchers eye from

pervious economics classes to the possibility of investing money in the stock

market in the hopes of receiving a nice return on investment, it wasn’t enough to

prepare the researcher for all of the different financial aspects that adults need to

know to be financially successful.

Throughout the 4 years of attending high school there were many times

when financial literacy could easily have been incorporated into the curriculum

that the teachers were teaching, but it was not. what about teaching students

financial literacy that we can apply to our personal lives so that we don’t spend

more than we make? Why not teach us how to save money first, and then buy a
new car, or a house?  Talk about how important it is to save up for a vacation

instead of putting a vacation on a credit card and paying it off for the next 3-4

years.For those of us that are born to be spenders, education around personal

finance is extremely important. Yes, it is great for all of us to learn the skills that

we need to find a good job. However, if all we ever do is spend every dollar we

earn, and then some, how have we really benefited from our education? There is an

on-going argument around the fact that parents need to teach their children about

money. But what if the parents do not have the skills, time or knowledge to do

that? They rely on the schools to teach those skills. And the schools rely on the

parents to teach those skills. And that is where most people miss out.

If you take a look at pretty much anywhere in this world it is pretty obvious,

that for many people, financial literacy wasn’t taught at school or at home. But it

should have been!