When I was in school, I remember taking classes like Algebra, Chemistry, Art, Cooking, Physical Education, and English. No teachers taught me how to create a budget and stick to it. I didn’t learn what debt is and I didn’t know how a college loan would impact my bottom line once I graduated. No one at school taught me what a credit card was or what a credit score was. I didn’t know about car loans or mortgages. And I didn’t know how time helps money grow. Do you think I made my fair share of financial mistakes? You bet I did.
What Your Children Don’t Know About Money Will Literally Cost Them in Their Future
Unfortunately, my story is not unique. While most parents experience at least some reluctance talking to their kids about finance, schools are not making up for it. Only seventeen states require students to take a course in personal finance. This lack of financial literacy shows in our society with 40 percent of millennials overwhelmed by debt and 50 percent living paycheck to paycheck.
In a previous blog we discussed the steps parents can take to teach their children financial literacy at home. Now, in honor of financial literacy month, let’s explore how we can take this one step further and bring financial literacy programs to more schools.
Bring Financial Literacy Programs to Our Schools
Financial literacy is vital to a school curriculum. Managing money is perhaps one of the most vital skills that everyone should have. As a parent, you can make a huge impact on your child’s education and influence the education system.
Check to see if there is an existing program
Do you know if there is a financial literacy program at your child’s school? If not, call your children’s school or go to Checkyourschool.org to see if they have a financial literacy program. Check Your School also has great resources such as talking points and sample letters to help you start a conversation with your children’s school on starting a program. It even has resources that teachers and administrators can use to implement a financial literacy program for your school.
Resources and content
Econedlink, from the Council for Economic Education, is a great resource for economics and personal finance content for grades 5-12. They have free short videos that can be used by teachers and parents as well as lessons and activities you can do with your child or implement in a classroom.
Some fun topics include:
Start a conversation
There is power in numbers. Talk to other parents, the PTA, and create a group to amplify your message. Make sure you reach out to your child’s teachers and school administrators to gather their support.
At the Prosperity Consulting Group, we are advocates for financial freedom and financial literacy. The Prosperity team has given many seminars on a range of financial topics. If you’re interested in having us speak at your child’s school, please leave a comment below so we can discuss the best course of action.
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