How important is financial planning? Should this be taught in School / College?

Introduction

Everyone knows the importance of financial planning. It's understanding steady income vs. floating income and knowing how much to set aside for the future.

Why Start Early?

Steady income includes salary or guaranteed returns. Floating income includes commissions or incentives. Financial planning isn't just for corporations—it's for everyone. Teaching this in schools can prevent debt traps for the next generation.

Key Pillars:

• Income Classification: Distinguish between needs and wants.
• Emergency Buffer: Always keep a portion for the unexpected.
• Debt Awareness: Understand how interest compounds over time.

Conclusion

Financial literacy is the foundation of a stable life. Don't wait until you're in a crisis to start planning. Educate yourself and your children today.