🎒 Finance Literacy in schools

If schools are capable of teaching all the unwanted stuff, why can't they educate students on personal finance?

What is the third element in the periodic table? What happens when alcohol reacts with an acid? What is the application of integral and differential calculus? Do you know the answer to these questions or at least have you applied them in day-to-day life? I am pretty sure no one would have.

If it is so obsolete in life, then why do schools make students study all of these and fail in teaching them what's actually required?

I personally feel that schools should start educating personal finance and how to invest at a very young age. Because the 20s and 30s are the age when people can consume a lot of risk appetite and if they can invest at a very young age and they can enjoy the superpower of compounding.

Schools should teach you how to retire early, not how to become rich early.

In most developed countries, financial literacy is already part of the syllabus and parents have the habit of financing the pockets of their children (pocket money) at a very young age. This teaches them how to spend, where, and why to spend. But what's strange in India? We teach them how to make money but not how to save and invest in them.

“If you give a man a fish, you feed him for a day. If you teach a man to fish, you feed him for a lifetime.”

Well, how did I learn personal finance then?

Youtube is my Guru.

In fact, I learned more on YouTube than in my classrooms. I started to invest in my 23 and even now I regret why I started this late. If my schools and teachers had educated me about how to manage my expenses, invest in companies or mutual funds or the term insurance, I would have been a very different individual now. I even now get upset at my parents and yell at them why didn't they teach me personal finance and why they put all of their bloodshed money on RDs and FDs.

Okay, enough of blaming the education policy and the framework. It's imperative for each and every individual out there to be literate in finance which eventually can make them financially stable and retire at a very early stage.

But how?

You have tons and tons of free content on the internet that teaches about personal finance. I would like to suggest a few of them - Graham Stephan, CA Rachana Ranade, Akshat Shrivastava and Dave Ramsey Show. You can find their amazing content on YouTube. That's how I became a self-driven individual in financial management. You can also read a couple of books like - The Psychology of Money, Rich Dad Poor Dad, and Best for Millennials: The Money Manual.