You should spend about 40 minutes on this task.
Very few schoolchildren learn about the value of money and how to manage it, yet this is a critical life skill that should be taught as part of the school curriculum.
Do you agree or disagree?
Give reasons for your answers and include any relevant examples from your own knowledge or experience.
You should write at least 250 words.

MODEL ANSWER:

In the present fast-moving world, many school children are not aware of saving or managing money and this may be of diverse reasons. It is argued that as a critical life skill, this should be an integral part of school curriculum. I do not think in a very different way.

The first and the foremost reason for my support is that many young people are seen struggling with financial crises, ranging from insufficient savings to inability to manage any serious financial emergency. In the past, people, especially the young adults were able to stand independently, when they ensured their financial security at a very young age. This was because they had experienced financial hardships at their tender ages. Most of them managed money independently at their younger ages, and this made them understand how to handle any sorts of financial crises.

However, the new generation feels that they are financially safe as most of their material or financial needs are met by their parents. Children, at their early childhood are often seen spending irresponsibly on frivolous items, which might turn them into ‘spendthrifts’ at a later stage. They are hardly given an opportunity to save some money in banks or other financial institutions, which would nurture a saving mentality. They are hardly exposed to any of serious economic difficulties at this age, and if such a situation happens in their adulthood, they would be ultimate losers.

The only solution now appears to be feasible is that educating them formally at schools about saving and managing money wisely. This can be done by including such subjects in their curriculum, giving them practical training in money management, or by opening a school savings account.

To conclude, I believe teaching money management at school would give children an opportunity to learn the real value of money, which they need as an essential tool of life in future.