Education Primary School

Teaching Financial Education is Critical and Primary Schools and Colleges Aren't Doing It

What you are desperate to know NOW that you should have learned in school and college can be learned. I used to think that working for money and having a high paying job was good since that was all I learned in school and college. Teaching financial education is so important, especially today, and more financial literacy articles are needed. Now, thanks to Robert Kiyosaki, author of the best selling book, Rich Dad Poor Dad and many other related books, I know that what I learned in school will not make me rich.

Schools, unfortunately, do not see the significance of financial literacy for teens and children. Robert has taught me that I must educate myself to learn how to make my money work for me and create financial freedom.

It is imperative that we focus first on our own financial education that will lead to our financial freedom.

Public school education, both primary and secondary, is both free and compulsory for every child of school age. There are also many private schools in operation in the Philippines for children whose families can afford them. Statistics from Jubilee Action, a non-government and non-profit organization based in the United Kingdom, state that out of 100 children in the school age group that attends the first grade of primary school, only 56 are expected to finish primary school and proceed to high school. Of the 56 students who went to high school, only 23 will get to graduate. Of these 23 high school graduates, only 14 will be able to obtain a college degree.

If public education is free and compulsory, how come the numbers indicate a huge dropout rate? That is because in public schools, only tuition fees and books are free. The quality of public schooling in the Philippines itself is inferior. The schools are not equipped adequately to handle the large influx of students. Poverty prevents a person from pursuing education, and the lack of education keeps him or her in poverty.