According to an Intuit study, 85% of high school students want to learn about financial literacy in school, but only half of states have a dedicated financial literacy course. Vanguard Financial Advisor Manager Tiana Patillo joins Wealth! to discuss how to improve financial education for young people.
Patillo believes financial literacy “should start with the children,” emphasizing that parents can “utilize” practical, everyday life scenarios to stress the importance of proper money management. She suggests having open conversations with children and even providing allowances to teach them the value of handling money responsibly.
The Vanguard advisor recommends using educational resources such as My Home Economy or My Classroom Economy, which can “really teach your children the power of earning, saving, and investing.” These tools, she says, can help develop strong financial habits and decision-making skills from a young age.
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This post was written by Angel Smith
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