CNN's Heather Long recently raised an important question for American schools: Why is financial education not considered as important a subject as sex education?

When sex education was introduced and made compulsory, there was apprehension as to whether this is a good subject for discussion among impressionable minds. Yet surveys have shown that this investment has paid off with teen pregnancies declining dramatically in the last two decades.

If the same principles could be applied to finance as a subject, then maybe we would see less debt burden across the country.

A typical American family manages to save about $100,000 for retirement, which is just 10 percent of the recommended amount. Surveys conducted by Standard & Poor's and Gallup show that U.S. ranks 14th in financial literacy, which means most of us are just not equipped to deal with money matters.

Our children need to start early when it comes to learning money management. Then maybe we can combat the somber figures that shroud the hope of financial independence. According to data release by the Federal Reserve and NerdWallet, 50 percent of Americans are unable to cover even a $400 emergency expense and one-third of Americans carry a whopping $15,000 credit card debt. The average student debt load is about $29,000 now.

This is because money matters are still taught at home and therefore the knowledge that seeps in imbibes the tradition each family follows. A survey by E*Trade shows that most people under 55 get their financial tips from their kith and kin. The rich are historically better at this, for obvious reasons, and therefore their children typically learn to navigate the financial waters better.

With most people learning about money — or rather picking up tips — from friends and families, is it any wonder Americans have serious money issues? Living from paycheck to paycheck is hardly the great American dream, and if the stock market crashes there is no nest egg to fall back on. A scary thought for the most developed nation in the world.

As Long pointed out, this can be and should be tackled head on by making financial education a mainstream subject in K-12 schools, just like sex ed. If people learn the basics about money, they will be better equipped to deal with money problems and make informed decisions about borrowing and spending, and saving for retirement.

Now required only in 17 states, according to the Council for Economic Education, financial education should be made mandatory everywhere so schools can actively contribute to financial literacy. While some reports show millennials are ahead in this and some in their 20s have started saving — much better than their older counterparts — the figures are still somewhat skewed.

However, for the nation to grow strong and see holistic financial independence, these lessons need to come from an independent authority with a realistic and practical approach to saving. They need to know about IRAs, credit cards, debts and interest rates right from their K-12 school days so they can invest safely, handle debt and manage their money wisely when they step out in the real world.

The few classes held on financial literacy are not enough to drill the importance of money management in students' minds. It needs to be a subject that can be mastered.