Financial Education and Management Curriculum
Financial management involves effective use of the availed limited resources in viable plans. Usually, this is achieved through engagement in development projects which seem viable. This management ensures accountability through effective management of funds that are available through constant audit and record keeping activities. Therefore, this is a necessary discipline in the entire economic sector which entails making financial decisions. Financial management should be adopted by the United States’ public schools in their curriculum because this will equip students with appropriate skills for performing economic activities. This discipline entails different learning areas. Adopting it will enable students to acquire necessary skills.
Investment plans are integral to this discipline. These include considerations that are made when making decisions for any investment. According to financial management, a project’s viability is an important factor that should be examined critically. This eliminates possible losses which can result from involvement in non-viable projects. Project’s viability is usually reached after comparing investment plans and expected returns (Eber, 2003, 320). Introducing this discipline in the curriculum will give students vital investment skills that they will need in their future. This will have great economic empowerment among individuals because successful investments will enhance self-employment.
Unemployment cases which are usually seen as a burden by the government will gradually be eliminated. Through financial education, individuals will understand economic situations better as well as different measures that one can use to deal with unfavorable economic predicaments. Economic conditions of every market usually affect investment plans. Knowing economic conditions properly will therefore enable individuals to make effective decisions regarding their investment plans. When a person knows about changes in currencies’ value, they can come up with future projections based on predictable returns (Khan & Jain, 2007, 2003). In addition to economic empowerment of individuals, a country’s Gross Domestic Product (GDP) will also be increased by an increase in investment plans. Hence there will be economic empowerment.
Risk management is a concept that is central to financial management as a discipline. This involves different 
methods that people use in preventing losses that relate to various occurrences (Khan & Jain, 2007, 203). Some of these mechanisms include the notion of insurance that offers compensation for what happens to insured risk. With this knowledge, making investment plans for risky but very lucrative undertakings will be possible. Introducing this subject in school curriculum will reduce fear that people have regarding different contingencies considering that there are insurance covers available. Additionally, the available covers will reduce mental unrest that comes with what happens with such contingencies.
Accountability in the economic plans will also be ensured by financial management. Through constant auditing that is done on the used resources, accountability is realized. The set goals will also be achieved in different activities due to accountability in different procedures. A proper system for recording events makes achieving accountability in financial activities possible. Consequently accountability is integral to financial management and this enhances harmony in financial operations. Mostly, organizational financial embezzlement causes conflicts which in serious situations compromise organizational operations. Due to accountability, effectiveness in organizational activities is therefore ensured.
Finally, introducing financial management in the curriculum leads to an increase in employment opportunities because the discipline entails various careers. Knowing financial markets can enable an individual to work in foreign exchange institutions or markets. Additionally, insurance skills enhance widening of employment opportunities. Wider career opportunities are important because they enable an individual to survive and the government will be able to handle unemployment in the U.S.
However, implementing financial education will also have constraints and therefore it ought not to be implemented. Cost problem is among the challenges that are likely to be experienced. Including this discipline in a school curriculum can increase operating costs. There are extra costs that will be incurred by the government in hiring teachers for training programs (Khan & Jain, 2007, 205). Professional persons are required for the learning program of this nature for it to be effective. If the government fails to outsource the required expertise, the education quality will be low. The American government has a budget that is already strained. This implies that the government will experience financial distress and therefore it ought to be avoided. Implementation of this program will cause an increase in the cost of accessing basic education. This will make basic education inaccessible to people in the lower class in the society yet this is their right according to the constitution.
Although there are cost challenges of the implementation of a financial education program that will be faced by the American government, several benefits will enjoyed from its successful implementation (Khan & Jain, 2007, 207). Therefore, the American government ought to adopt appropriate mechanisms in order to ensure that this program is implemented fully and effectively.
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References
Eber, V. I. (2003). The pros & cons in financial management, for professionals and executives. Miami: E.A. Seemann Pub.
Khan, M. Y., & Jain, P. K. (2007). Financial management. New Delhi: Tata McGraw-Hill.