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Educating Our Kids On How To Save For Their Futures

Finances are such a huge part of our lives, therefore, it is important we begin to teach our kids about money at a young age and encourage them to save as they earn for those bigger purchases. Lucky for us, we have some time before their expenses grow exponentially costly, primarily for college, but also the other costs associated with an adult lifestyle.

From paying for tuition to books, food, and housing, costs will be sure to add up very quickly. So now is a great time to think about investing in a college savings plan or setting money aside for those expenses to help our kids avoid huge financial burdens starting so young in life.

It is important that teenagers and children have some kind of insight on spending and  saving. Financial education in schools can play a big part, but also practicing math and setting an allowance at home is a great way to help our kids earn and learn. I guess we will be lucky since many high schools now teach financial literacy courses to teach students about bank accounts, credit cards, and smart spending.

For example, Discover is participating in the effort to bring financial literacy to high school classrooms nationwide through the Pathway to Financial Success  program. The goal is simple: Arm parents and children with the skills they need to succeed, preparing them for a brighter, more responsible financial future. Pathway to Financial Success is committed to doing just that by providing grants to high schools that are implementing or enhancing a financial literacy curriculum.

How about your school? Do your local schools teach financial literacy classes? If not, you can send a letter to the school administrator describing the importance of teaching young adults about money and urging them to apply for a grant to get started.

 

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I am a compensated brand ambassador for Discover. All opinions are my own.