School curriculums are meant to teach students to be employable. The focus is on subjects that will lead to major careers. However there is a need to teach life skills. One of the most important life skills is management of personal finances. Many students leave high school without learning basic financial skills. Below are 10 things every high school student should know about finances to prepare for life.
1. How to balance a checkbook
Everyone should balance their account to their statement each month.
2. How to budget
A budget is the key to succeeding financially.
3. How to pay for school
Find out the different ways of paying for your school fees.
4. Learn basic life skills
Things like cooking, grocery shopping, laundry, and mending clothes can help you save money.
5. Basic investing
There is need to understand how to invest in stock markets and profitable projects.
6. Long Term Planning
If you want to be successful financially then have a long-term plan for your money.
7. Managing debts
Learn to manage your payments, to keep your debts low and to always pay on time. This will help you to save and plan long-term.
8. Managing credit cards
Credit cards may be good or bad, depending on how you use them. Learn to manage your credit score by paying for your cards on time.
9. How to rent and pay utilities and bills
Learning to rent from the moment that one get into college is important. It teaches the individual responsibility towards putting a roof over their head.
10. Not to rely on government or donor funding
Times and economic climates are changing, young people will now need to save for their retirement. There is also need to move away from relying on government benefits.