As a parent, what’s something you hope to avoid at all costs? Stepping on a lego? Seeing a report card full of “F”s? Having your kids move back home after graduating from college—and never leaving? We don’t blame you. No one wants an adult child living in the basement and eating all the pizza bagels that were supposed to be for you.
So how do you keep that from happening? You could lock the door and block their phone number. But that might put some strain on your relationship. Or you could encourage them to sign up for a personal finance class that will teach them how to manage their own money so they will move from high school to college to the real world with no debt and plenty of savings!
When your teens take a personal finance class and get the tools they need to be savvy with their money, they’ll stop thinking of you as their personal ATM and start becoming the responsible, independent young adults they truly can be. Isn’t that every parent’s dream?
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So here are three of the most important reasons why your kids need to enroll in a personal finance class that uses Foundations in Personal Finance, a curriculum that’s been taught in more than 40% of high schools across the country and has impacted the lives of more than 4 million students!(1)
1. Foundations will boost their financial confidence.
After taking a personal finance course, 95% of students feel confident with budgeting, 87% with investing, and 94% with saving!(2) That’s a huge deal, considering that one in five American teens currently lack basic financial literacy skills.(3)
The curriculum breaks down topics that might seem intimidating at first glance. It covers lessons like creating a monthly budget, paying for college without student loans, being a young entrepreneur, and investing and saving for retirement, just to name a few. And because it’s presented in a fun, engaging way with inspiring speakers and plenty of humor, we can (almost) guarantee they’ll look up from their phones long enough to absorb the material!
2. Foundations will make your job as a parent easier.
Have you been waiting for your teenager’s mood swings to even out a little before diving into a conversation about saving their money for college instead of spending it all on their prom date? What about trying to find time during a busy weekend to give your teen the 411 on investing? So fun, right?
Of course, your teen will always look to you as an example of how to manage money. And there are plenty of things you can do as a parent to help them on their financial journey, like keeping them accountable for actually making a budget and sticking to it.
But let’s face it: Raising a teenager is hard enough without trying to explain everything there is to know about personal finance at the same time. Let the curriculum handle that for you. (You’re welcome.)
3. Foundations will give your kids a one-way ticket to the real world.
Even though they might not always act like it, your kids are growing up. Adulthood brings a whole slew of financial challenges, from buying a car to paying the bills to saving for a house. Sadly, many people never learn how to navigate these changes without taking out a massive loan (or two or three). Purchases can end up on the credit card and off their radar—until they’re buried under a mountain of debt with no idea how to pay it all back.
Well, that doesn’t have to be your child. And it won’t be because Foundations in Personal Finance will teach them everything they need to know about winning with money. And since they’ll have that education at such a young age, they’ll be able to avoid all the common money mistakes before they even become a problem.
Millennials might have earned the unfortunate nickname of the “boomerang generation,” but that stereotype can stop with your kids. When they’re financially literate, they don’t need to depend on their parents—or anyone else—for money. They can graduate from college debt-free and transition easily into the workforce knowing they’ve got a bright future ahead of them. Equipped with their fully funded emergency fund, they’ll stand on their own two feet without even considering your basement as a housing option. And you can relax and just enjoy your relationship with your (grown-up) kids. That’s what is most important anyway.
Parents, do you have a high schooler in your life? Many high schools offer a personal finance course as an elective. When helping your teen select classes for the upcoming school year, ask if Foundations in Personal Finance is being offered. If it is, make sure they enroll!