When you were in high school, did your teachers focus heavily on this topic? No? Well, how about when you got to college? The answer is probably still an unenthusiastic, “No.”
When we are in high school, our curriculum tends to focus on getting us the basics to prepare for life. We learn history, some economics, English, maybe a secondary language, and then of course we have a plethora of electives to choose from. But among that list, we find very little financial background.
Fast forward to college.
We are in our freshman year. We may have chosen our major already, but that ultimately does not matter as we are forced to take a variety of courses to give us a well-rounded introduction to the college life. What isn’t necessarily among that information provided? Finance.
It seems that finance is only a topic worth considering if you are either A.) Considering becoming an accountant or some other professional that deals with daily financial tasks, or B.) You are old enough to live on your own, work to pave your own way, and pay your own bills. Both of these outcomes, however, may be too late.
The best-case scenario is that parents spend the time to educate their children on the topic of financial understanding and readiness, and children take the time to listen and learn about these concepts. What is important to consider is that financial matters are often misconstrued as difficult topics.
Fear not, my friends — finances are not a concept that is above our heads.
Investopedia discusses this topic about financial education of our youngsters, and provides eight financial tips for young adults. Read on to find out how to educate your children, or, if you are in fact a young adult, how to get the most out of a do-it-yourself financial education.