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Start Financial Literacy Education Early to Avoid Problems Later in Life

 It’s the best time for parents to have a positive impact, since children learn from watching and listening to their role models.

Column distributed by Hearst Connecticut Media Group.

Links to resources referenced:

    • Related column excerpts:
      • “Efforts are improving on the national front for youth financial literacy, which I applaud. The Council for Economic Education’s 2024 Survey of the States reported that 35 states now require students to take a course in personal finance to graduate (an increase of 12 states from 2022), with 28 states requiring a course in economics.” 
      • “Outside education efforts are helpful but not as meaningful as the home. Survey data tells us that the vast majority of children from ages 8 to 14 rely on their parents as the top source for advice about money (T. Rowe Price 14th Annual Parents, Kids and Money Survey). T. Rowe Price is a global investment management firm.”
  • Money as You Grow: Help for Parents and Caregivers
“Also be sure to check out the National Standards for Personal Financial Education, which is created by the Council for Economic Education and Jump$tart. Focus on Grade 4 in particular. The categories include earning income, spending, saving, investing, managing credit and managing risk.”