why is IT important to educate yourself about personal finance as a student?this question is part of personal finance final exam

Why is it important to educate yourself about personal finance as a student?

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Asked by Lindsey_grant, Last updated: Apr 24, 2024

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2 Answers

Malcolm Carneal, Digital Nomad, MCA, Vienna

Answered Aug 28, 2018

When people are young, they need to become educate about the world around them. One way to do this is with their personal finances. Parents really should begin that process when the student is young. They could provide an allowance that the child has to earn. Then the child will become aware of how much things cost. When the student enters college, they will be living in the real world and they will need to be making purchases and saving money.

Many college students are contacted by credit card companies so that they can get these college students to eventually owe money to the credit card companies. If a student learns early about finances, then they will learn to spend wisely and save money for emergencies.

John Smith

Answered Oct 16, 2016

It is important to educate yourself about personal finance as a student so you are prepared for a future of financial responsibilities you will face as an adult. Education on how to manage your money is a very useful tool for students because they are more aware of what goes on in the different aspects of financial and monetary systems adults face in the future. You can save, invest,manage your credit and finances wisely and not make mistakes when you start managing your own money.