AuthorBy SavingsMix.com | Published on 10/16/2017 | Updated on 08/21/2018 Many young people tend to go through the next step in their life without formally knowing basic financial concepts and proper strategies to deal with adult’s personal financial realities.
Many young people tend to go through the next step in their life without formally knowing basic financial concepts and proper strategies to deal with adult’s personal financial realities.
This is due to the fact that children don’t learn and achieve financial literacy at their home or at their school.
In the news article: “Why kids should be taught personal finance in school - and at home” published online by Aleksandra Sagan of CBC News, it was reported that even parents have difficulty dealing with personal finance and understanding the relation of spending money with managing money.
Schools can therefore play an important role in filling the gap.
Young people can have a clear understanding and can have a better picture of what personal finance entails based on their family’s financial activities, starting simply from going shopping, buying groceries to paying home mortgage or rent. Young people can have a clear understanding and can have a better picture of what personal finance entails based on their family’s financial activities, starting simply from going shopping, buying groceries to paying home mortgage or rent. Seeing realities such as these could help kids become familiar with basic concepts such paying on time, spending for what is necessary and having fun at the same time.
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