Do our kids have the money smarts to live in the real world?

first_img 6SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr by: Neale GodfreyThis could be a really short article, because the easy answer to the question posed in the title is: “No.”  Simply put, our kids are financially illiterate.You have all witnessed the following scene at your local convenience store: The total bill comes to $11.93 and you hand the 16-year-old cashier a $20 bill and three cents.  The teenager looks at the amount you’ve handed them with a blank stare, struggling to figure out the change.  You have completely stumped them, but fear not; the cash register will make the change.  Remember the good ‘ole days when we were taught how to make change?  Those days are gone!You might say, “So, what is the big deal; let kids be kids.”The big deal is that these kids not only have access to money now, they will inherit a bundle from us (approximately $59 trillion) in the future.  And, without proper guidance and education, our kids will end up the way that many Americans have… in debt.A sobering stat: continue reading »last_img

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