Financial Literacy is Crucial by Ellison

Financial Literacy is Crucial by Ellison - June 2025 Scholarship Essay

High schools require students to take subjects like math, science, and English to prepare them for the future. However, one of the most essential life skills, how to manage money, is often ignored. That’s why I believe financial literacy should be a required class. It teaches skills every student will use in real life, no matter their career path. Financial literacy helps students understand how to handle money, create budgets, save, and avoid debt. These are real-life skills that people need every day. For example, students learn how to make a budget, how credit cards work, and why saving early is essential. With the high cost of college, learning about student loans and how interest works is crucial. If students don’t know these things in school, they often make mistakes that can hurt them for years. Making financial literacy a required class can help students avoid common problems like debt, poor credit, and living paycheck to paycheck. Many adults struggle with money simply because they were never taught how it works. A financial literacy class would teach students how to make wise decisions before they face real-world financial challenges. In addition, learning about money builds independence and confidence.Students who manage their finances are more prepared to handle adult responsibilities. This is especially important for those who may not learn financial skills at home. A required class would give everyone an equal chance to succeed.
Schools are already packed with required subjects. Financial literacy could be taught in just one semester or built into classes like health or social studies. Even an introductory course would be better than leaving students to figure it out independently. Financial literacy should be required because it teaches practical skills that students will use. It prepares them to make smart financial decisions, avoid serious mistakes, and take control of their futures. If schools truly want to prepare students for adult life, they must start with the basics, including understanding money.