Here’s an open secret about the things we learn in schools – instead of learning critical life skills, kids are taught to memorise information.
In years to come, this practice we have will come back to haunt us when it comes to personal finance.
We do have some possible theories (not enough for a thesis) on why personal finance is not taught in Singapore schools in one of our previous article. Some of the main reasons being:
Personal finance is not a subject that can be tested meaningfully. The possible lack of qualified instructors or teachers for the subject (will Warren Buffett ever be keen to give us lecture in secondary school?) The economy would suffer dramatically should everyone becomes really financially savvy overnight.