In deciding the overall educational needs of children, we often tend to ignore the importance of imparting a real life skills. Schools are doing great job in transforming the children into literate individuals. Good education opens the doors of brilliant career opportunities and helps them earn good income.  Majority of them enter the real world with excellent earnings, but unfortunately, without the knowledge and skills to manage their earnings prudently.

In today’s fast-paced consumer society, financial literacy is an essential everyday life skill. It means being able to understand how the money works, how someone earns, how a person manages it, how he/she invests it to multiply and how that person donates it to help others. It is regrettable that neither schools nor parents spend any time in teaching children the fundamentals of money management and personal finance. It becomes more essential to develop good money habits and money management skills to our teenagers during their high school level, because, this is the time they start developing strings of habits and are exposed to peer pressure and the outside world.

This basic financial education will enable the students to understand better and learn more and more in the coming days from other sources to further expand their financial knowledge before they start earning. Telling our children to act sensibly and responsibly might be a tall order, if we have not inculcated good money habits early on. Hence the best and most meaningful gift we can give our child is the gift of financial literacy.