Video: 3 Lessons to Teach Kids About MoneySubmitted by Reby Advisors | Certified Financial Planners | Danbury, CT on July 19th, 2019
According to the National Financial Educators Council1, only 16% of young adults (ages 18 - 26) are optimistic about their financial future. More than half of millennials are worried about their student loan debt.
Studies show that financial literacy can help young people overcome at least some of the financial challenges they now face. Americans who know and understand important personal finance principles are in better position than those who are not. For example, North Dakotans, who rank 4th out of 50 in financial literacy, had the highest percentage of respondents say they had an emergency fund (US Financial Capability2). Vermont ranked 2nd on the same financial literacy assessment, and they had the lowest rate of risky non-bank borrowing methods (US Financial Capability2).
When is a good time to learn about personal finance? It's never too early! In the video above, learn three key money management principles that can be taught to elementary-age children.
If you or anyone in your family needs financial advice, please do not hesitate to contact Reby Advisors.