Why Your Little Ones Are Lacking a Solid Financial Education!
In school students are use to taking reading, writing, science, and math class, but what about personal finance? Personal finance isn’t being taught at schools and a survey of K-12 teachers from the National Endowment for Financial Education showed less than one-third are teaching the subject in schools and under 20 percent feel able enough to teach personal finance.
So, why are we not seeing this subject taught in schools as much anymore? Well, the answer is simple, we are letting it slip. It use to be a skill that was learned along side of math but slowly this has been slipping away as educators are just expecting students to know these skills from parents or even on their own. Although it is important for parents to teach their children this life skill it should be reinforced by educators in the school system.
If these money skills are not being taught in your child’s school then as a parent make sure you incorporate basic money skills into your daily discussion. If your child is young allow them to pay at the grocery store and help them with the process. Or set up a bank account for them so that they can track their money and it will teach them basic skills that are needed instead of getting to the college level and lacking these basic skills, which unfortunately is becoming more and more common.
So, for more tips and ways that you can incorporate basic personal finance skills into your child’s daily routine be sure to check out the video above.