information for parents
It’s up to parents to begin the financial education process at a young age – the sooner, the better. No matter your child’s age, it’s never too late to begin. But a staggering number of parents don’t address financial literacy with their children. According to a recent study, one out of three parents are more comfortable discussing drugs, smoking, and bullying with their children, rather than money. With only six states in the country requiring financial education testing in high school, it’s up to you to make sure your children are properly educated in personal finances.
Using the resources and tools below, educate your child about money and how it fits into our everyday lives. You can use your own life experiences as examples and lessons. These lessons will help determine the kind of financial manager that your child will become as a teenager and adult.
Our nation’s economic future depends on the financial well-being of our youth. It is so important that children start learning about finances at a young age so they are better prepared to make sound financial decisions in the future.
Don’t feel like your own financial education is adequate enough for you to teach your kids? Visit our Financial Education Resources to better get a grasp on financial literacy so that you can be a good role model and teacher for your kids.
Here is a breakdown of how you could approach financial education for kids by age group, and what concepts make the most sense at those specific ages.
Jobs and Allowances: How Kids Can Earn Money
Encouraging your child to earn their own money will help them understand the value of a dollar. Here are a few ways that they can make money (with your supervision) and earn an allowance. Not sure how much to give for an allowance? This guide will help you.
Back to School Budgeting Tips
Back to school shopping can go smoothly and not impact your budget if you plan ahead and budget accordingly. Back to school shopping should be considered a periodic expense since this happens year after year and something that you can proactively plan for.