Introduction

After graduation, most students will not need the knowledge of advanced mathematics. However, what they will need is know-how of handling money. Financial literacy is a subject that teaches students basic money management. Students can learn how to save and invest money. They will know how debt and taxes work. This knowledge will help a student build strong money habits.

 

Why is financial literacy and understanding taxes superior to advanced maths classes?

Advanced maths classes taught in high schools include complex subjects like algebra and calculus. Students hardly need the knowledge of calculus in real-life problems. The students pursuing a career in science may need it. So, advanced maths classes should be replaced with more practical courses on financial literacy and understanding taxes.

• Importance of the knowledge of financial literacy

Students will have many instances when they will need basic knowledge about personal finance. In Financial Literacy courses, they will gain not only knowledge but also insights on how to deal with money. Implementing this course in high schools will provide practical financial experience to students. They will learn how to budget and spend money effectively. Study shows that early implementation of this subject helped students get more successful. The knowledge of finance will lead to healthier lifestyle choices.

 

• Importance of the knowledge of taxes

Most students do not get to learn how taxes work. This can be a hassle as they become adults. The most important thing about taxes is deadlines. There are many rules of the tax system. Students might get overwhelmed by those rules after graduation. This is why high schools should include courses on understanding taxes. Understanding how taxes work will prepare students to handle deadlines and tax-related problems. 

 

Conclusion

Advanced maths courses are needed in schools. But high schools should also include financial literacy and tax courses. Understanding money management at an early age will make students financially healthy. They will grow up to have a positive attitude towards money. They will learn how to earn and share. 

 

Frequently Asked Questions 

 

• Who is a Tax Advisor?

A tax advisor is a professional with advanced knowledge of tax accounting. He offers his services to individuals and firms alike.

 

• What is banking?

The bank is a safe organisation that stores your money. There are several benefits of banking, such as easy loans, money transfers, investments, etc.

 

• What is meant by investment?

Investment refers to the act of investing your money in an idea, person, or business. The aim of investment is to get increased returns for your money over a period of time.

 

• Do I need the knowledge of advanced mathematics?

If you plan to pursue a career in maths, physics, or chemistry-related fields, then you need to study advanced mathematics.

 

• Does early knowledge of finance help?

Yes, early knowledge of finance helps a lot. Money management becomes easier in the future, leading to healthier lifestyle choices.