The Family News Take ? This article highlights a crucial element of education and personal development that is regularly overlooked in the home and in the classroom: the wise use of money.
Money rules the world.? Everyone needs it to survive.? Often, however, those with the most money aren?t the best off.? In a world of multi-million dollar sports contracts, it?s almost unbelievable to realize how many of these athletes go broke because they don?t adhere to basic principles of sound financial management.
Whether or not you or your child is one of those multi-millionaire professional athletes is irrelevant.? Whether or not you and your child learn to use your money to your own advantage is extremely important.
Via Time Moneyland, by Victor Luckerson ? At Henderson Elementary School in Chicago, children regularly learn about money. Not just in mathematical word problems, but in practical ways too. They make short-term and long-term savings goals, for an XBox next year or a college education next decade. They participate in National Lemonade Day, setting up stands to get a taste of the most classic form of child entrepreneurship. They?re given piggy banks that aren?t just for saving and spending, but also for donating and investing. Money?how to use it, how to save it, how to protect yourself from it?is seeping into their core curriculum.
?Every kid likes money,? says Audrey Miles, Henderson?s librarian who teaches financial education to 2nd and 3rd graders. ?Rather than squandering it, it?s about planning and how to understand financial security.?
The current generation of children will contend with many monetary issues that their parents and grandparents did not have to face, from sky-high college costs early in adulthood to bankrolling their own retirement later on. Financial education, which first gained traction in the days of overextended credit cards in the 1990s, has garnered new attention in the post-recession world. Now schools, non-profits and financial institutions are partnering to find ways to make personal finance cool to kids, all the way from kindergarten to senior year of high school.
Continue reading Making Personal Finance Cool to Kids on Time Moneyland
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