Financial Education for Kids has Never Been More Important
The recent economic slowdown has touched a huge population all across the country. Now more than ever, financial education for kids becomes critically important. Raising money-smart children will afford them the ability to recognize and capitalize on opportunities which will help them pursue their own personal American Dreams.
What options are available in terms of financial education for children? Schools face increasingly stringent testing requirements and budget cuts, so very few of them have the resources to offer financial training. Most kids do get money knowledge from their parents, yet few parents possess the skills to teach personal finance for kids effectively.
Children today face an unpleasant future which probably will include higher taxes, reduced services, and drastic cuts to Social Security and Medicare. In fact, according to the Government Accountability Office, the SSI system may be bankrupt by 2037. And our kids are the ones who will bear the burden of the country’s $40 trillion and growing budget deficit. Although our kids will face larger challenges than we did, giving them a solid financial education now can make all the difference.
Courses now are available to help give kids financial education that works. Home schooling financial literacy curricula with a proven track record are on the market. These programs are designed to educate and entertain children while they receive a financial education. Some campaigns, like the ones promoted by the National Financial Educators Council (NFEC), even partner with sports stars and celebrities to draw children’s attention and create media awareness.
By building networks and partnerships between parents, nonprofits, schools, teachers, and community leaders, the NFEC is making a difference. This organization teaches kids practical money management skills via curriculum, events, camps, workshops, training, and products. Financial training for kids has never been more crucial than in today’s economy, and thanks to the NFEC they can have hope for the future.