Question

Answer in 120-150 words:

Financial literacy is increasingly recognised as a crucial 21st-century skill for young individuals. Write a letter to the editor of a local daily discussing the benefits of providing financial literacy education to children. Also, suggest effective ways to raise awareness about the importance of this education among parents and guardians. You may use some of the given cues along with your own ideas to draft the letter. You are a counsellor, Chitra Mahapatra from Puri, Odisha.

What are the long-term benefits of learning financial independence from a young age? Why is understanding the power of finances beneficial for young learners? Why skills learned during childhood tend to have a lasting impact.

Answer 1

Chitra Mahapatra,
Counsellor,
Puri, Odisha.
23rd October 2022

The Editor
The Odisha Times
Bhubaneswar, Odisha

Subject: Advocating Financial Literacy Education for Children

Dear Sir,

I write to express my concern about the limited financial literacy among children, an essential skill in today's world. Teaching young learners about financial management builds a foundation for long-term economic independence. Children familiar with budgeting, saving, and responsible spending from a young age develop confidence in handling money, reducing financial stress in adulthood.

Moreover, understanding the value of finances helps them make informed decisions, laying the groundwork for habits that last a lifetime. Since skills learned in childhood tend to endure, imparting this knowledge early will have far-reaching benefits.

To raise awareness, schools, and parents can collaborate through workshops and interactive programs on personal finance. Engaging parents via community seminars will also highlight the importance of financial literacy, encouraging them to support their children's learning actively.

I urge the community to recognize the significance of financial education for a secure future.

Sincerely,
Chitra Mahapatra
Counsellor