Should We Teach Financial Basics at School?

There was a time when schools offered a subject called home economics. It taught basic life skills — cooking, budgeting, sewing, and handling everyday tasks that most of us eventually needed. I am not sure if it is still being taught, but if it is not, perhaps it is time to bring it back.

In today’s world, one question keeps coming up: should we be teaching financial basics at school?

Most of us remember learning abstract mathematical formulas. Some were useful. Others — well, they were never used again. Meanwhile, basic concepts like income, tax, budgeting, and managing personal expenses were often left out. Yet, these are the things that every person will eventually face, whether they become an engineer or an artist, a business owner or a shift worker.

We live in a society where people are encouraged to spend before they learn how to manage money. Credit cards are easy to get. Online shopping is one click away. Many young people enter adulthood without understanding how tax works, what superannuation means, or how to read a payslip.

This is not about turning everyone into accountants. It is about making sure that students leave school with the knowledge to make informed decisions about their own lives. Knowing how to handle money is not optional in adult life — it is essential.

Bringing financial literacy into schools is not a radical idea. It is a practical one. And perhaps, with a little adjustment, schools can strike a better balance between theoretical knowledge and everyday life skills.

Because in the end, learning how to manage money might be one of the most valuable lessons of all.

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