Give a Kid Financial Education, She Can Succeed for Life
Maybe you’ve heard the old saying: “Give a man a fish and feed him for a day. Teach a man to fish and feed him for life?” Let’s turn that saying around to fit today’s world: “Give a kid five bucks, and he’ll have lunch money for a day. But give a kid financial education and she can succeed for life.”
When many current adults were young, financial education for kids meant little more than handing them an allowance and giving them a piggy bank to put it in. Nowadays children need a lot more. Children have to be prepared for the challenges that will await them when they’re old enough to move out on their own. Parents who do prepare their kids to make real-world financial decisions will avoid having to support them into adulthood. And those children who learn about money early will avoid the common problems so many people face today.
For a start at a good solid financial education, kids should learn about credit. Too many people learn their credit lessons at the “school of hard knocks.” Trial and error lead to mistakes that can follow you around for the rest of your life. But learning some basic lessons about how to use credit wisely, build a good credit history, and stay away from bad debt can make a huge difference.
You can learn some tips to teach money management for kids by getting free information that’s available from the National Financial Educators Council (NFEC) by visiting https://www.FinancialEducatorsCouncil.org. The NFEC is a social enterprise organization with a commitment to helping raise financially healthy youth. Surveys have shown that the overwhelming majority of youth today are concerned about their finances. Give them a financial education and help them succeed for a lifetime.