Undergraduate / "basic money management" as a mandatory class" - Lehigh Supplemental Question 2 [3]

Please answer one of the following questions: (As a guideline, your response should be between 150-250 words.)

2. If you founded your own college or university, what topic of study would you make mandatory for all students to study and why? What would be the values and priorities of your institution and why?

any advice would be appreciated...

I believe that the most valuable knowledge gained in the classroom is the knowledge that can be applied to everyday life. Two days ago was Black Friday, a day where people spend their money thoughtlessly. Although the sales are very good, many often spend aggressively and more than their checkbooks can handle. If I founded my own university, I would make a class "basic economics and money management," mandatory for all students. In a society where money has become increasingly important and essential to living, I believe that people should have a basic understanding of how to manage their money. If people were better at managing their money, we could rid society of many of its problems. One of the main reasons for the high debt in the country is due to the people's poor money managing skills. If more people knew how to balance a checkbook or keep a good credit score, less people would be in debt. If people were economically sound, they would be more relaxed and comfortable with their financial life. People would learn how to make good investments, and businesses would grow, benefitting the economy. Furthermore, people would not have to go and spend more money on hiring someone to manage funds for them. Surprisingly, money management is not taught in most schools, and until it is implemented in the fundamentals of the classroom, more problems will continue to arise.