Why Schools Should Offer a Financial Education

David Beskar
2 min readJan 13, 2022

Learning about finances is not just a skill for future bankers and financial specialists. Financial skills are important to start teaching in high school and to practice in college and the real world. Most secondary schools should offer finance education for numerous reasons.

Creating and managing a balanced budget

Budgeting is the first skill that young students should learn. This is especially true for college students who are living off of their student loans, grants or money given to them by their parents. In addition, budgeting becomes a daily habit that will stick with a person for life.

Avoid accumulating debt

Accumulating student loan debts is a common regret among college students. While they’re in high school, students should learn that they have options other than borrowing loans with interest.

Purchasing a car

Many college students have to buy their first cars on their own. Sellers often target young people who may rush into the process or not do enough research and waste a few thousands of dollars on a purchase. Financial literacy allows young people to save wisely for a car and spend only what they can afford at the moment.

Saving for college

Financial literacy should start on the first year of one’s high school career. Freshmen should start planning financially as soon as they start thinking about college. High school students should have a good idea of how expensive college can cost. They will learn the best skills by taking a free money management class.

Saving for retirement

High school is not too early to plan for retirement. A young student who starts working should review the various benefits of individual retirement plans from IRAs to 401ks. Every cent that is invested in this account is saved for future benefits. Many plans allow the withdrawals of cash from the account without penalty.

Reducing expenses

Finance education focuses on expenses and how important it is to cut back on unnecessary spending. Wasting money starts in junior high school and only worsens until it reaches its peak in college. By the time they graduate from college, students are realizing that they could’ve saved tens of thousands of dollars if they were more careful.

Learning to prepare one’s personal finances is recommended before college begins. A finance education course for youths often includes learning how to choose the right credit card, preventing student loan debts and avoiding the legal consequences of debts. Students learn how to save money, reduce expenses and plan for the future.



David Beskar

David began his career as an assistant software engineer at Triple Vision Inc. in Minneapolis, quickly rising through the ranks.