Have you taught your kids how to be financially responsible?
According to Robert Dickie, President of Crown Financial, more often than not, teenagers enter their young-adult years completely unprepared for managing their finances.
How can we help our children to learn how to be good stewards of money?
Robert sees many schools teaching students to memorize facts, which isn’t really necessary anymore with the invention of the smart phone. Instead, students should be taught more practical skills and abilities.
“We need to teach our children critical thinking skills, we need to teach our children to be leaders, and we need to teach them to be able to operate in this new emerging global economy.”
Personal finance knowledge and skills should be an essential aspect of all school curriculum.
“I think it’s absolutely critical and every single school should have some type of financial curriculum that is a requirement for high school students before they can graduate.”
Many students are completely unaware of how the world of finance works and are unprepared to negotiate the treacherous waters of credit card debt, interest rates, and saving for emergencies.
“These are things that many kids just don’t understand how to do, you know mom and dad paid for the bills and continue to take them shopping. All of the sudden one day they are out of college and they’ve got a couple credit cards and their doing it on their own.”
All young adults should have a firm grasp on basic financial awareness before they enter the workforce.
In an effort to encourage financial awareness for the next generation, Crown Financial would like to offer Faith Radio listeners a free resource titled Developing Your Freedom Fund.
Click here for more details on how you can help your children start off on the right foot financially.
Highlight: Raising financially responsible kids
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