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Will Our Kids Be Dumb and Broke?

May 14th, 2008 at 03:36 pm

I read the article on the MSN Money site, Will Our Kids Be Dumb and Broke, today and agreed whole-heartedly with it.

We NEED to start teaching our children how to manage money. A lot of them graduate from school having no idea how to do basic personal finance tasks like write a check, balance an account, or figure out how much money they can afford to spend on a house.

You can go to the Jump$tart Coalition's website to see if your state requires any personal finance classes for students. My state has no requirements. I would really like to see that changed.

This is one reason I'm excited about the seminar I'm going to next week. We really need to start offering the public some resources on personal finance and I'd really like our public libraries to be a part of that.

Posted in Goals, Personal Finance 101 | 5 Comments »

5 Responses to “Will Our Kids Be Dumb and Broke?”

1. SicilyYoder Says:
   May 14th, 2008 at 05:24 pm
   I've been thinking about my teenagers too- I've taught them about some of the things Dave Ramsey teaches.

2. ceejay74 Says:
   May 15th, 2008 at 07:59 am
   Great article, thanks for sharing. It also linked to an older article about money lessons you can teach preschoolers--that one was nice too.

3. sagegirl Says:
   May 15th, 2008 at 09:53 am
   DD is in 4th grade and right now their social studies unit is on economics. Tuesday they learned to balance a checkbook, yesterday they learned to write a check (note to self: lock up checkbook) and today I think they are watching some "economically related" age appropriate videos. They are assigned a project, due at the end of the month, where they have to come up with a good or service to market and sell to their classmates. They will all get "money" to buy goods/services they need. She is really liking it. I am not sure she will get much more economic education after this as it has been my experience that our state is lacking in this area.

4. rduell Says:
   May 15th, 2008 at 09:59 am
   That's really a TON more than our kids get. They get nothing. I had to teach the oldest 3 how to write a check. My 4th is very interested in economics and has been listening to my Financial Peace University at the age of 15.
   
   

5. bert Says:
   July 21st, 2008 at 04:25 am
   I think you highlight some important points about how financially savvy the young men and women of tomorrow will be.
   
   I think we should encourage them to start by opening up simple bank account packages from a young age, even if to only manage pocket money etc.
   
   I don't know about the states but in the UK there are plenty of free account packages to choose from providers including but not exclusive to HSBC, Lloyds and many more.
   

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