Writing task:

Some people believe that children should be taught how to manage money at school. Do you agree or disagree?

Answer:

Capitalism plays a significant role in modern society, making financial education crucial for survival. Schools, as institutions that prepare young people for their roles in the community, should therefore teach children how to manage money. I strongly agree with the opinion that financial management should be part of a child’s education.

When it comes to economic education, the customs of the Jewish community come to mind. For example, Jewish youths are often given seed money during their coming-of-age celebrations, marking the beginning of their journey toward building wealth. From a young age, they are taught the importance of money and how to handle financial challenges. This early education helps them develop a strong foundation in financial management.

In recent years, some parents have started teaching children as young as five years old how to count money, make purchases, and develop responsible spending habits. Some even introduce basic concepts of stock trading. As a result, children who learn to manage their allowances early often begin saving money and investing in financial assets. This early start allows them to benefit from compound interest over a longer period. On the other hand, children who do not receive financial education may start managing their money later, which shortens the time they have to accumulate wealth. Consequently, financially educated children are likely to have an advantage in building wealth.

I believe that economic education, including how to manage money, should be a mandatory subject in schools. This would not only help reduce the gap between the rich and the poor but also ensure that all children have equal opportunities to understand how capitalism operates in our society.