Youth Financial Education
You know how important it is for your kids to learn about money. But are you also aware that they are unlikely to receive any youth financial education in school? Public education systems are dealing with dwindling budgets, which means schools can scarcely afford to maintain the programs they have—much less add any. Therefore it’s up to you to provide your children with the financial skills they need to make it in today’s real-world economy.
The National Financial Educators Council (NFEC) promotes financial literacy for youthacross the U.S. and around the globe. This organization is independent, not affiliated with corporate influences, and has adopted a social enterprise business model. The NFEC provides resources to parents to help them raise financially responsible children.
Most kids learn financial habits from their parents. But unfortunately, many parents received little or no financial education during their formative years. And parents who have made financial mistakes might not feel comfortable teaching their kids about money. According to Vince Shorb, young adult success coach at the NFEC, even those parents who have made errors in the past can find the resources to help teenagers become financially independent. After all, who hasn’t made at least one money misstep in his or her lifetime?
Financial education for youth has never been more important than it is today. And if they do receive a sound financial education, youth will have easier, more productive lives in the future. Financial knowledge gets passed along generation to generation. Children see how their parents handle money and pick up habits from watching them. But for parents, learning the basics of personal money management is easier and quicker than most subjects they studied in high school. Parents can—and should—start making a difference now.