A growing concern held by many employers for today’s youth entering the workforce, either while in school or college, or even those getting permanent jobs, is financial literacy. Many teens have never had a savings account nor have they written a check. The word budget is often the furthest thing from their mind and in some cases not a part of their vocabulary.
Teens often don’t understand the impact of spending money they don’t have and using credit cards without considering the consequences.
With all the turmoil in the economy today, it would be very beneficial for students to learn all they can about how to manage their money and strive towards financial success. However, do the students understand the importance? Financial solvency doesn’t just affect an individual’s eligibility for a security clearance, but it also affects their ability to obtain credit in the future.
Many jobs will run a credit report for all new hires, which makes managing finances a priority for everyone.
There are a variety of materials online that can be used in multiple subject areas to help students understand finances. Below are some quick resources for use in the classroom:
National Endowment for Financial Education High School Financial Planning Program
Create a free login at this site to access a full downloadable financial education curriculum geared towards high school students.
Accessible to high school and college students, as well as adults, this quiz gives individuals a picture of where they stand when it comes to financial independence.
Appropriate for a wide range of subject areas, this site offers various pre-programmed calculators that students can use to make important financial decisions.
Get it straight from the source. Courtesy of Mastercard. Do you know all there is to know about managing your credit? Slides cover topics such as Your Money, Budgeting, Managing Credit Card Debt, and Credit Reports.