Reader’s opinion|It’s sad to think that too many young people enter adulthood without the proper skills to understand the effects of spending money.
Finland there are many good things in the school system. However, one significant shortcoming is in dire need of correction: teaching young people financial skills. Teaching the basics of financial management and investing isn’t just about numbers – it’s a practical life skill that gives young people the keys to their own future. It’s sad to think that too many young people enter adulthood without the proper skills to understand the effects of spending money, and have to learn things the hard way that could have been taught in school.
We all probably know someone who has had to struggle with debt spirals, defaults or uncertainty just because no one ever told them how money really works. Young people who start life with financial problems often experience frustration, fear and shame. All of this could be avoided by teaching the basics: how to budget, how to save and how to invest long-term.
When young people learn to understand how to use and invest money, they not only learn to manage their own finances, but also gain a sense of control and the opportunity to dream bigger. Imagine how significant it would be if every young person in Finland knew that even with small actions you can build your own financial security – that the first salary is not only spent in an instant, but that part of it could grow into interest, even for their benefit.
Teaching financial skills to young people is like giving them a toolkit with which they can build the foundation of their own lives. It is a protection against the storms of life, when surprises, such as unexpected expenses or financial setbacks, do not derail everything. It gives you the courage to take control of your own future – to try, invest and grow your own wealth without fear of failure.
We need to think about what kind of future we want for our young people. Do we want them to repeat the mistakes of previous generations or do we give them the opportunity to learn skills early on that will open doors to a more independent and stable life? Teaching young people about finances and investing is an investment that pays off – not just for them, but for society as a whole. It’s time to take action and make financial literacy a basic right for every young person.
Nicholas Poole
student, entrepreneur
Rauma
The reader’s opinions are speeches written by HS readers, which are selected and delivered by the HS editors. You can leave an opinion piece or familiarize yourself with the principles of writing at the address www.hs.fi/kiryotamielipidekeisuis/.
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