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Teaching Children Personal Finance

Updated on December 11, 2011

Personal Finance Education

Over the years our children have been taught the same tired subjects. From grade 1 to 12 English , Math, History and Science. Yes, they are important but in this high paced technological world so are other topics. In the past few years computers and computer courses were added to keep in step with our demanding world and remain competitive.

Personal Finance and Financial Responsability should be added as a required course. They do have a High Shool Economics course available as an elective but that doesn't solve the problem for children that choose not to take it. Understanding economics is essential to becoming an informed and productive citizen that makes wise financial choices. Getting informed about budgeting, insurance, interest, savings and loans as well as about supply, demand and real cost makes us all better consumers.

If you've had the privilege of being around our youth lately and paid attention you've probably heard about the terrible financial state they find themselves in. As soon as they graduate they are bombarded with applications for credit cards without having a clue as to how to budget their finances. Lacking personal finance skills and not aware of financial responsibility they apply for everything that hits their mailbox in the form of credit. I don't think we should let our highschoolers and college students remain clueless about financial matters any longer. The hole they dig for themselves can be prevented through early education about money matters.

Teens today are all about making money. They want to know how to make it, and where to get it so they can spend it. Wouldn't it be great if we could empower them and teach them about sound financial decisions that will help them be smart with the money they make over a lifetime.

Personal Finance Covered Topics

1.Opening Bank Account , Banking Procedures , Balancing a Checkbook, Budgeting

2. ABC's of auto purchase and financing

3.Applying for credit cards and credit (secured and unsecured loans)

4.Benefits of Saving

5. Investing

6. Mortgage loans and rates

7. Student loans

8. Interest

Challenging our youth a bit more when it comes to financial matters and educating them benefits our childre , us as parents, and society as a whole. These are life skills. Personal Finance courses should be mandatory as part of the curriculum.

Some will say it should be a parents responsibility to teach their kids and to a certain degree I agree, except for the fact that not being taught themselves leaves alot of parents in the dark. The program to be successful needs to grow roots and the schools are the ideal place.


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    • profile image

      Henrietta 2 years ago

      No more s***. All posts of this qultiay from now on

    • Bail Up ! profile image

      Bail Up ! 7 years ago


      I think it only makes sense. Our kids deserve better.

    • Truth From Truth profile image

      Truth From Truth 7 years ago from Michigan

      That is a great way to help people get started at an early age, and pointed in the right direction. Thanks.

    • James A Watkins profile image

      James A Watkins 8 years ago from Chicago

      Great idea! I think this would be helpful. Thanks!

    • profile image

      Bail Up! 8 years ago

      Dolores- thanks for the comment. I agree, certainly more complicated than it past years. I believe its an elective in most schools but a great start non the less.

    • Dolores Monet profile image

      Dolores Monet 8 years ago from East Coast, United States

      Actually, our high schools incorporate most of that into an economy class. The kids earn an imaginary amount of money, maybe $20,000 per year. They have to locate an apartment, car, insurance, and figure in other expenses. They quickly learn how it's impossible to live on little money. It's a very cool project.

      Personal finance is something everyone should know. It's a lot more complicated than it was years ago.