One of the major concerns I hear is children aren’t being taught about finances earlier in their lives. I see that it is a major need to push to educate our kids at an early age and throughout their school years. We hope someday children get more educational tools placed in the classrooms to educate kids. In the meantime, it is our job to educate the youth.
Prepare and fully equip them for the real world. Here a few topics to educate your kids on:
- Nothing in life is free
- Work hard for what you want
- Credit cards are for building credit; not for shopping sprees
- Teach them about taxes and how to prepare their own
- Teach them the difference between needs and wants
- The importance of paying on time
- Only take out a loan if needed
- If you create debt, intend to pay it back
- The importance of credit
- Educate on interest rates
- The beauty of research and negotiating
- Opening a checking and savings account
- How to write a check
Schools need to add more financial courses and activities to educate children and teens on finances. Many kids graduate and start making a ton of bad financial decisions. Working in the credit repair industry, I’ve witnessed some 20 year old’s are already in heavy credit card debt. That is a major problem! By properly educating kids, they will graduate high school and make better decisions with their money. Don’t rely on the schools, do it yourself! Children need to be taught at all ages. Check out my book below. It teaches money lessons for kids and teens.
