Financial Literacy in High School: Importance and Implications Report

This report delves into the critical role of financial literacy in high school education. It begins by outlining the research's background and justification, emphasizing the need to understand the current state of financial education and its impact on students. The report utilizes a qualitative research approach, drawing on articles, books, and journals to gather insights. It underscores the importance of personal finance education, highlighting its effectiveness in equipping students with the skills needed to make informed financial decisions. The study examines the current landscape of financial literacy, discussing the benefits of providing financial education in schools. The report also addresses the challenges associated with the lack of financial knowledge, such as the misuse of credit cards and a lack of understanding of financial products and services. The report concludes by advocating for a proactive approach to financial education, emphasizing its role in promoting responsible financial behavior and improving students' financial well-being.

Introduction
The main aim of this study is to evaluate the importance of financial literacy in high school.
This report demonstrates the background of the research as it demonstrates the reason for
conducting this study. This study will consider the qualitative research method to meet the
aim of the research. This method will facilitate to get information from existing sources like
articles, books, and journals. It also discusses the current situation of financial literacy in
schools. In last, it discusses real situations related to the current concern.
Thesis statement
The thesis statement of this study is” should financial literacy be taught in high school”.

Background
The problem of this study is to comprehend the importance of financial literacy in high
school. This report is effective to gain an understanding of the reader as well as investigator
towards the current research matter. The reader will read many journals articles, books, and
magazines to improve their understanding of financial literacy. Further, Financial literacy
could be determined as the skills and knowledge set, which permits an individual in order to
make an effective decision with respect to the financial resources. Personal finance education
is effective at both schools and at home.
Current situation
In the current era, personal finance concepts should be taught in high school due to improving
knowledge of students about finance. Moreover, the organization is categorized as division
and multiplication of the firm. It is examined that personal finance education could be
imperative for students to make a financial decision in the upcoming period. The school
could give equal opportunity to school student in obtaining reliable information towards
finance resources.
Moreover, it was complex for measuring the intensity of individual finance instruction, which
is occurring in schools.
Moreover, financial education is effective for all students due to having a personal finance
decision. Financial literacy could also long-term impact on the financial behavior of the firm.
The personal finance education of a student is vital due to improving financial decision skills
for financial well-being. Moreover, the country should need to use a proactive approach to
preventing debt. It could be possible by educating high school students to financial literacy.
In the current era, the application of plastic money has been increased but due to lack of
financial literacy, people have made fear towards the use of such kind of money. Moreover,
young people have not comprehended credit and debit cards, banking investment, assurance,

and insurance goods and services. In addition, people do not comprehend payday lending,
credit reports, rent-to-own products, and credit scores. It declines the opportunity of getting a
favorable result in favor of the financial decision. The financial literacy directs to make
effective individual behavior of finance. It could be effective in making a financial decision.
In addition, it is evaluated that those people who are less literate could not be capable to have
services related to the retirement plan, checking account, and own stocks simply. It could also
decline the opportunity of them to have a mortgage facility easily. Thus, it can be said that
the country should facilitate to give education to the higher class people.