Nowadays young people lack an understanding of how to manage their finances after they finish high school. Explain why they do not know how to manage money and how this can be changed.

There is a widespread difficulty that, modern society has been witnessing a dramatic surge in the amount of young generation, who is not able to earn, managing and controlling own profits. A myriad of factors can be regarded as culprits for this happening, lack of applied finance education and experience being by far the most prominent. Despite the issue being hard to eradicate swiftly, it is imperative that certain measures be undertaken promptly, which will be addressed in this essay. One can recognize numerous factors, which have triggered problems of lack a comprehension of financial management skills among youngsters. One of the primary causes for an increase in the amount of financially uneducated alumnus is rooted in the fact that schools and parents do not teach children how to control money outcomes. Financial knowledge might have played a crucial role in cutting down the number of uneducated people in money management. It is true that, most of us do not know how to make money, control households and daily spending. Another share of blame lies on the university’s poor curriculum, which provides only fundamental education, narrow profile subjects, most of student lack of experience and knowledge how to make a profit. To tackle the problem of low financial erudition, a number of possible solutions are likely to prove effective, provided the government and public join their efforts. Managing finances should be teaching as a school subjects, also parents can give more freedom in earning pocket money. For example, school children may part – time employed in summer holidays. In terms of latter, high school disciplines ought to focus on not only academic subjects, also writing innovative proposals and business plans are helpful. Taking everything into consideration, it can be concluded that, provided the family, school, high educational sectors handle their involvement in the solution scheme, namely, experience and knowledge of earning profit will achieve an improvement society.