Dec 16, 2021 04:40 PM EST By David Thompson, UniversityHerald Reporter

Financial literacy is a crucial skill for everyone to have. There are many reasons this should be taught in an undergraduate program, the most important being the outrageous cost of college tuition. If they aren't taught, they could be looking into bad credit loan options. We will go over six different reasons why financial literacy should be taught to undergrads to make informed decisions about their money and future.

Increasing Financial Literacy can Help Students Better Manage their Finances

One of the most important reasons to have financial literacy as a requirement in an undergraduate program is to help students better manage their finances. Many people struggle with money management, which can lead to a lot of stress down the road. Understanding the basics of personal finance, like budgeting and saving, makes it easier to stick to a plan and stay out of debt.

Financial Literacy Helps With Understanding the Financial Markets and How They Work

Another big reason financial literacy should be taught in undergrad programs is that understanding the financial markets is essential for making good decisions about your future. Many students graduate with tens of thousands of dollars in student loan debt, so it's important to know how investments work and how to manage your money properly.

Understanding Personal Finance will Allow Students to Make Smarter Decisions

Personal finance is a skill that can be applied in every aspect of life, not just financial management. Understanding personal finance helps you make better decisions to succeed when you graduate from undergrad programs. Many students have trouble finding jobs because the market has changed over the past few years, but job-hunting becomes much easier with understanding finances!

Financial Literacy is Essential for Managing Credit Cards Responsibly

One more reason why financial literacy should be taught as part of an undergraduate program is credit cards are an integral part of our society today. However, many people don't know how to use them responsibly or struggle with debt. This is a huge issue because the average student who graduates from college with $30,000 in debt and credit cards is one of the leading causes for this mess. If students understand money management skills through financial literacy programs, they will be more likely to use their credit cards responsibly and avoid getting into trouble down the road.

Financial Literacy Helps When You Don't Have Financial Knowledge

At its core, financial literacy can make you better at managing your finances, whether it's saving for retirement or buying a house! Money isn't taught enough these days, so if we don't teach our children about finance early on, there will be no success when they get older. Most go off to work without knowing how to manage their finances, and unfortunately, they aren't going to have much success. With the right training, though, financial literacy can help them understand how money works so that hopefully, we will see a change in society for future generations!

Financial Literacy is Essential for Managing Credit Cards Responsibly

One more reason why financial literacy should be taught as part of an undergraduate program is credit cards are an integral part of our society today. However, many people don't know how to use them responsibly or struggle with debt. This is a huge issue because the average student who graduates from college with $30,000 in debit and credit cards is one of the leading causes for this mess. If students understand money management skills through financial literacy programs, they will be more likely to use their credit cards responsibly and avoid getting into trouble down the road.

Studies show that young adults who don't know how to manage their finances are more likely to struggle in the future. Financial literacy is important for everyone, not just those interested in a career in finance. But it's even more essential for college students because they're about to be thrust into adulthood and will need money management skills sooner rather than later. So we ask you- should financial literacy be taught as part of an undergraduate degree? We think yes!

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