I was born in Nepal and grew up in the Nepalese culture. Growing up, most of our conversations about money focused on saving money and keeping some money aside for those “rainy” days. We didn’t talk much about investing, assets, credit, debt, credit cards etc. Schools and colleges didn’t teach us about money management either. In educational institutions, we learned about business, how to make money, how to get a good job among other things but learning about money itself was left to ourselves.
Looking back, I believe we should talk about money around the dinner table, in the classrooms and around the workplace. As an individual, learning about money should come before we get credit and debit cards. We should know how credit cards work, how to build an excellent credit score and why it’s important to build a credit history. Similarly, a credit course or even a non-credit course on personal financial management in schools and colleges will make students more smarter on managing their money. The sooner we learn about money, how to earn money, and manage money, the better for everyone.