Financial literacy begins at home

child outside of school

As children begin heading back to school, it’s important that parents remember to embrace their role as financial educators.

“We know that children who receive a solid financial education have a better chance of developing into financially responsible adults,” said Jo Kerstetter, national spokesperson for MMI.  “But that education is rarely provided at school.”

Recent studies have revealed the following:

  • 81% of parents feel they are responsible for their children’s financial education. (Doughmain.com)
  • 76% of teens feel they should start learning about money and savings at kindergarten, but only 29% report that such programs already exist. (Junior Achievers)
  • Over 70% of Americans feel that US teens don’t understand the basics of money management. (PracticalMoneySkills.com)
  • 40% of American adults would grade themselves a C or worse in financial literacy. (NFCC.org)

“Parents may feel unqualified to act as teachers,” said Kerstetter, “but simply sharing what they do know would have a substantial impact.”

Where parents may feel their financial expertise is lacking, MMI is here to provide educational resources, including lesson plans, articles, calculators, videos, webinars and more. With time and the right tools, any parent can provide their child with a topnotch financial education.