Universities are often described as training grounds for the mind. They teach students how to think critically, communicate effectively, and conduct rigorous research. These are invaluable tools that equip graduates to navigate the professional world. Yet, a glaring gap remains: financial literacy. Many young adults graduate knowing how to dissect Shakespeare, analyse data, or solve equations. However, they cannot confidently budget, save, or plan for retirement.
The paradox is striking. Education should prepare individuals for life as much as for work. While students master academic theories, many stumble over practical decisions such as managing student loans, understanding taxation, or weighing the risks of credit card debt. Without these skills, financial missteps can quickly erode the stability that a degree is meant to secure.
Financial literacy is more than balancing a cheque book – it is about empowerment. Graduates who understand budgeting, investing, and responsible borrowing are better equipped to make decisions that shape their futures. They are less vulnerable to predatory lending, better prepared for emergencies, and more capable of building long-term financial security with a salary.
Moreover, financial strain is a leading cause of stress among young adults. Teaching money management is not just an economic issue but also a mental health intervention. A financially literate graduate is more likely to thrive both professionally and personally.
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The misconception that financial skills belong only to commerce or economics students is outdated. Every graduate – whether in engineering, nursing, arts or law – will earn an income, pay taxes and face financial choices. Just as communication and critical reasoning are universal skills, financial literacy should also be a universal skill. A philosophy graduate may never draft a corporate balance sheet. However, they will need to budget rent, student loans, and retirement contributions.
Universities already encourage students to think strategically about careers; why not also about finances? A single required module on financial literacy could cover essentials, including budgeting and saving, debt management and credit scores, as well as investment.
Digital finance and fraud awareness should be part of the standard units. This is not about creating financial experts but about instilling the confidence to make informed choices.
Suppose higher education is truly about equipping graduates for the real world. In that case, financial literacy must be part of the curriculum. A degree should not only open doors to employment but also empower graduates to manage the rewards of that employment wisely. In an era of rising debt and uncertain economies, the shift from salary to strategy could mean the difference between lifelong struggle and lifelong stability.
Ashford teaches English and Literature in Gatundu North Sub County and serves as Dean of Studies.
By Ashford Kimani
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