Six ways to teach kids about finance

School time means plenty of lessons to learn in the classroom. But parents usually have to be the teachers when it comes to a subject their kids will need to understand throughout their adult lives – personal finance.

Studies show that teaching finance is not a top priority of the U.S. education system. Fewer than 20 percent of teachers report feeling competent to teach personal finance, according to a Council for Economic Education Survey, and only 17 states require students to take a personal finance course in high school.

“The majority of your kids’ financial education will come from you,” says Kathy Longo (www.flourishwealthmanagement.com), the author of Flourish Financially: Values, Transitions, & Big Conversations. “Because we parents have such a great influence on how our kids spend, save, and invest, it’s critical that we teach them early and often how we want them to value money.”

 

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