“Seek Financial Education” Published on June 26, 2012

Ghanaians have been counseled to acquire knowledge about products and services offered by the financial institutions in order to make prudent financial decisions.

“An informed borrower is simply less vulnerable to fraud and abuse. This is why there is the need to acquire the necessary and appropriate knowledge in order to make financial decisions,” said Fifi Kwetey, Deputy Minister of Finance at the third National Financial Week in Accra.

Seeking financial education is necessary to help individuals to create household budgets, initiate savings plans, manage debts and make strategic investment decisions for themselves and their families with regard to retirement and property acquisition.

However, few Ghanaians have had the opportunity to learn the basics of financial management in school.

The deputy minister was of the view that people should take advantage of opportunities to learn about personal financial skills as “consumers who are financial literate are in a better position to make effective financial decisions.”

He hinted that “experience in more developed economies has shown that financial education early in a person’s life leads to financial independence and sound investing decisions.”

To instill financial education at an early age, he hinted that the Ministry was revising the social studies, management in living and business management syllabi for Senior High Schools to make it a part of the educational curricula.

In line with this, the Ministry of Finance and Economic Planning, in collaboration with the Ghana Education Service (GES) and the German International Cooperation, has developed detailed course content under ‘personal financial education for senior High Schools in the country.

Additionally, a draft content for the study of the subject as well as other learning materials have been developed.

“The expectation is to equip students at the senior High School level with adequate knowledge of basic financial issues to enable them to make informed financial decisions as future customers of financial services providers.”

By Emelia Ennin Abbey

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Comment by AhmadRiaz on July 12, 2019 at 8:04am

Financial Management is a great subject. I was interested in this subject but after study this subject I realize that it is very hard for me then I switched towards the writing and I get success and today I am a part of professional assignment writers which was my dream and I am enjoying my work.

Comment by WazeWaze on June 11, 2019 at 9:43am

Financial education is very important in the capitalistic world. That's why you should graduate whatever it takes. https://www.bestassignmentservices.co.uk/assignment-writing-service... can help you with some writing assignments. Good luck with it

Comment by Jeorge Waters on January 29, 2019 at 6:58pm

In my opinion, financial education must be improved. For example, we must write plenty of essays, but how it helps me to understand economics? I don't know... Moreover, I didn't even write them, ordering them on https://essaysmatch.com/english-essay-help/ seems to be a healthy idea.

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