Financial Literacy Skills Essay

Financial management can be tough for individuals who have no knowledge or planning of how to spend money. In addition, financial literacy courses for high school students is a part of that undermining factor, making it an obstacle instead an advantage. In fact, these economic courses have shown to give students short-term benefits, minimal financial influence, and deficiency in financial knowledge. First, students received temporary effects after completing the courses. According to “Financial Literacy, Beyond the Classroom” by Richard H. Thaler, “Those with more than 24 hours of education and training, almost the length of a college course-had no discernible effects just two years later” (Thaler, 10). Thaler states that for most students,
In “Financial Education Leaving Americans Behind” by Greg Burns, “high school students who took a semester long personal-finance course and tested worse than those who didn’t” (Burns, 7). Ironically, those who have taken financial literacy classes scored less than those who have not. Thus, taking financial literacy courses have hindered students from their potential evaluation. However, there have been success stories where students have gratified such classes. For example in Tara Siegel Bernard’s “Working Financial Literacy in With the Three R’s”, a student said “I also learned that good budgeting has to be maintained throughout a person’s life no matter the income, no matter the living conditions” (Bernard, 3). A student expresses that the class changed the way he viewed his financial status. As a result, exceptional students who are mindful of financial literacy may find the classes substantial later on. Overall, financial literacy classes have been shown to be a pointless and a demoting factor for many students and should be omitted . Due to it, most students only acquire use of these classes for a limited time, do not gain any advantages, and have also shown deterioration in the basis of financial