For most of us, almost twenty years of our lives are dedicated to studying. We learn about theorems and possibilities in Math, figurative speech in English, and anatomy in Science. Looking back, as my college graduation looms in front of me, I realize that, despite all the years I spent in school, I was not able to learn a very important thing: how to do taxes.
I wonder, are schools just purposely ignoring this fact? Are they just letting independence and adulthood do their work? Nonetheless, here are some reasons why I think schools should teach us how to do our taxes.
It Teaches us Budgeting
In my opinion, the first thing that we will be able to learn once we are taught about taxes is budgeting. As young adults, this lesson is crucial because it will define what kind of lifestyle we will have. Once we know how to allot our resources to our priorities, loans will be avoided. Thus, I conclude that good budgeting also leads to better chances of financial stability.
Taxes are Our Responsibility
As we all know, taxes fund social projects. Governments collect taxes so that they can improve the overall situation of a nation’s lifestyle. Some sectors that highly rely on our taxes are the health, governance, and education sector. More importantly, taxes are our savings for our nation’s future too. Without taxes, our demands will not be met and our country will not progress to its fullest capability. Needless to say, taxes are our responsibility not just as individuals, but as citizens too.
Accountability Breeds Concerned Citizens
Once we are able to learn about responsibility, we will also demand accountability. Considering the fact that we know where our money goes, we will want to know how the government will spend it. Since taxes fund government projects and pay for the labor of government employees, we will want to make sure that our money is spent wisely and accordingly.
Taxes practically run every country. It is the fuel to our nation’s engine in achieving success. To this day, schools not teaching financial literacy still puzzle me. It makes one ask questions: is it a matter of an outdated curriculum or are they just afraid of people who have enlightened minds and watching eyes?
Aside from being a self-proclaimed caffeine-dependent person, Franchesca believes that she is a writer too. Because of her desire to escape mundanity, most of her time is spent in her bed watching TV series or her nose in a book. Additionally, she can be found wandering the streets, museums, and theaters of Manila. When asked about her philosophy in life, she will answer, “God is a woman, and my lola is the proof!”