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There is a 'money management for kids' movement that is raising awareness of the need for financial literacy curriculum. The lessons our children pick up though this type of training are essential to living well in today's world. Teaching these money management for kids skills opens up more opportunities for children than most of us even realize.
When we teach 'money management for kids', we teach personal responsibility. We educate children so they understand that they have a say in their financial future and that they will have much more control when they grow up. Whether you, as a parent or educator, have a lot of money or not you can show kids the importance of budgeting and prioritizing.
Practical financial literacy curriculum gives kids a life skill that many of us ended up missing out on during our own childhood. So many individuals in today's population between the ages of 20 and 45 have significant credit card debt because until now there has not been a significant money management for kids movement. In fact, the overwhelming majority of us never learned the way credit worked or how we could hamper our lives with debt until we enrolled in the school of hard knocks.
The money management for kid's movement helps provide today's youth the essential skills needed to make it in the global economy. Through financial literacy curriculum we can show them basic money management for kid techniques such as: saving, investing, budgeting, financial goal setting, credit, debt avoidance, account structure, money flow, having a healthy relationship with money and retirement planning. Basically, if we can teach them to save money at a young age and give them investment skills they have a big advantage many adults today wish they had growing up.
The younger you start teaching kids about money the better. Children are quite capable of picking up money skills with the right financial literacy curriculum. Outside of school, daily activities like chores and discussing purchases while shopping can help them pick up basic financial literacy skills. The money management for kid's movement starts at home with you. So by making your daily activities into additional ways we can teach kids about money will only help them in the long run.
An overview of the family budget can be a great way to teach money management for kids that are a little older. Many of us were truly shocked to discover just how much money it takes for us to enjoy a comfortable retirement. We never really thought much about it as children but if we did a large majority of us would of started to save and invest at a much younger age. The money management for kids movement is about empowering them with financial literacy skills so they never have to say "I wish I knew about that when I was younger".
Although the money management for kid's movement is on the top of our educators and legislatures mind, it is up to us to keep this movement going. Insist upon your school bringing in financial literacy curriculum so your children can benefit from the knowledge they pick up.
