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Parents who are not well-versed in financial literacy have a very big disadvantage when it comes to the imperative job of raising their children to be responsible about money.
One of the main drivers of this disadvantage is the reality about the K-12 curriculum in America’s public, charter, and private schools. Children are not taught about the intricacies of this nation’s financial system or about how money actually works in the new globalized economy that is dictating how this nation’s financial health is stabilized.
In the case of teenagers, in particular, this is very key because this is the age group where minors are on the brink of young adulthood. Finance majors can excel at the collegiate level after they graduate high school once they have made up their minds about what they want to do in life for a living.
However, at the high school level, very little is taught in their everyday studies, which prepares students for a high level of understanding when it comes to the subject matter of markets, the Federal Reserve system, and investment strategies. This is why parents must supplement the education their children are getting from the mainstream K-12 system.
Forbes Magazine recently published an interesting article titled Ask Bankable: What Can I Do As A Teenager To Have Financial Freedom? This informative piece of literature answers some important questions teens and their parents may have about financial literacy in today’s monetary climate.
“To really find financial freedom, you need to learn how to invest. And just as in school, you may have to do a lot of research. About 22% of U.S. teenage students lack basic financial literacy skills, according to the PISA study. Stay ahead of the curve by creating your own financial knowledge base,” the Forbes article reads.
To read more great financial advice, which parents can offer their teen children, visit the link to the research source given for this article below.
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