Why Financial Literacy Should Be a Required Class by Kelssie

Why Financial Literacy Should Be a Required Class by Kelssie - June 2025 Scholarship Essay

In most high schools, students are required to take years of math, science, history, and literature, but very few are required to take a course on something they will use every single day of their adult lives: personal finance. Financial literacy is often treated as an elective or covered briefly within other subjects. In my view, financial literacy should be a required class for all high school students because it equips young people with the tools to manage money wisely, avoid debt, and build a stable future.
One of the biggest reasons I believe this class should be required is that financial ignorance is expensive. Many students graduate from high school without knowing how to open a bank account, how credit works, or how to create a budget. Without this knowledge, they’re more likely to make poor financial choices, like taking on excessive student loan debt, misusing credit cards, or failing to save for emergencies. These are avoidable mistakes that can have long-term consequences, and they stem not from carelessness but from a lack of education.
In a required financial literacy class, students would have the chance to learn practical skills such as how to file taxes, how to compare loan options, the importance of saving early for retirement, and the basics of insurance. These are not just useful, they're essential. Just as we’re taught how to solve algebraic equations or write essays, we should be taught how to read a pay stub, understand interest rates, and create a monthly budget.
Another reason this class should be required is that financial stress is one of the most common causes of anxiety in adults. Teaching students how to manage money can help prevent that stress before it starts. It can also promote equity. Many students come from families where financial topics aren’t openly discussed, or where parents didn’t have the chance to learn about personal finance themselves. By making the class mandatory, schools can help level the playing field and ensure that all students, regardless of background, have access to this critical knowledge.
In addition, learning about money management helps students develop responsibility and long-term thinking. When young people understand the value of saving, budgeting, and spending wisely, they are more likely to make thoughtful choices, not just about money, but about other aspects of life, like education, housing, and employment. It gives them confidence and independence, two qualities that benefit them far beyond the classroom.
Some might argue that financial literacy could be integrated into other classes instead of standing on its own. While that approach might seem more efficient, it often results in the topic being rushed or ignored. To truly prepare students, financial education deserves dedicated time and attention, just like math or science. A standalone, required course ensures that students receive consistent and thorough instruction, regardless of their schedule or teacher.
In conclusion, financial literacy is not just a helpful elective. It’s a life skill that every student needs. Making it a required class would empower young people to take control of their futures, make informed decisions, and avoid financial pitfalls that could hold them back for years. Schools have a responsibility to prepare students for the real world, and teaching them how to manage their money is one of the most impactful ways to do that.