Children want to learn about money as young as they are. They’re not just some entitled, socially awkward “IPad kids”. They want to know how to save, budget, and make smart money choices. A study by OneFamily, highlighted by FT Adviser, found that 70% of teenagers think saving and 63% think budgeting should be key focuses in school lessons. The research also showed that nearly 3 million young people discuss money with their families. 

Gen Alpha and Gen Z have grown up in a world shaped by economic instability, growing living costs, and global issues like climate change and social inequality. So, why aren't we giving them the tools they need to succeed financially? Financial education should be made accessible in schools to empower students, improve their futures, and benefit the broader economy.

Despite the obvious desire of the youth to learn more about financial literacy, they are not afforded many opportunities. Some schools may not have the budget or resources to dedicate to financial literacy programs, meaning students miss out on critical lessons about saving, budgeting, and planning for the future. Meanwhile, schools in wealthier areas may offer more robust financial education programs. Teach for America found that only six states have made it compulsory to complete a personal finance course to graduate high school.

Even in schools that offer financial literacy programs, there’s often a lack of qualified teachers to deliver the content effectively. Many educators are not trained in personal finance and may feel ill-equipped to teach the subject. The lessons taught might not be as impactful or engaging as they could be, leaving students with only a basic understanding of money management.

Different cultures see money in different ways. In some communities, financial topics might not be openly discussed. When I was growing up, I was often told that finances was a topic that is exclusively for adults. My parents would only say we didn’t have money for unnecessary things. Furthermore, during apartheid, black people did not have access to formal credit. After apartheid ended, in some households, credit was misunderstood and seen as free money, when, in reality, it is borrowed money that must be repaid with interest. 

Factors like these make it difficult for students to learn about money management at home. In communities where financial discussions are taboo or misunderstood, schools play a major role in providing the education that families might not be equipped to offer and being a safe space for students to ask questions about money without fear of judgment.

Good financial literacy empowers not only the students but their communities in many ways. What if every student graduated with the skills to budget, save, and invest? How much brighter would our collective future look? Financial education gives students the knowledge and confidence to take control of their finances. They learn to budget, save, invest, and avoid common financial pitfalls. Financial anxiety is a common struggle, especially as living costs soar and economic challenges persist. Many adults feel unprepared to manage debt, save effectively, or handle unexpected expenses, leading to unnecessary stress. 

Financial education provides future adults with the tools to tackle these challenges early, building confidence in their ability to make informed choices. From budgeting for daily expenses like groceries, cleaning supplies, and gas to deciding on student loans or planning for long-term goals like buying a car or a house, financial literacy equips students to approach life’s big decisions with clarity and assurance. By reducing uncertainty and empowering students to make sound financial choices, we’re setting them up for a future where they feel in control, not overwhelmed, by their finances.

When people are financially educated, they are more likely to contribute to a stable, thriving economy. Financially literate individuals are more inclined to save, invest, and make smart purchasing decisions. They are also better able to weather economic downturns, which helps create a more resilient economy overall. Imagine an entire generation of people who know how to manage their money wisely where they’re more likely to invest in businesses, save for retirement, and even contribute to charitable causes, all of which benefit society as a whole.

Financial education isn’t just a personal benefit. It’s essential for stronger communities and economies. Schools have the unique opportunity to equip students with critical money management skills, filling gaps that families and communities often can’t.