When should you be learning about finances and when do we actually learn about finances? When I was growing up no one taught me directly about finances. I grew up watching my parents how they handled money with their own a small business and seeing how they operate it. I learned how to count cash, write checks, and deposit cash and checks. A little bit of accounting you can say. This was great exposure but it is just the tip of the iceberg. I was never taught about interest, CD’s, mortgage, loans, bonds, stocks, etc. Getting exposed to early financial literacy should be an important subject for children to learn.

My oldest child is taking a finance course in high school. It’s a development course that the county is piloting. I am so happy that this is being developed. One day my child comes home asking about CD’s and high-yield savings. Another day she’s asking about interest and loans. I cannot be more happy to see that our school system is taking this serious.

Prior to this I tried to teach my child about finances. I tried to explain about checking and savings accounts, mortgage, 529, after-tax investment accounts, and so on. She had no interest in what I was saying. Even if I showed her 529 account we set up for her, there was not much interest.

When someone else, like a teacher, starts talking about finances kids are tuned in. Regardless whether they learned it from me or at school doesn’t matter to me. What matters is they are exposed early and take an interest in learning it. Finances is a big subject. There’s so many aspects to finances that it’s going to take time for someone to learn and grasp each one.

The latest talk I had with my daughter was the pros and cons of going to a university straight from high school versus going to a community college. She actually brought up the fact that community college is cheaper to start with and you can transfer to a university afterwards. Financially that is a pro. I did say you also have to weigh missing the college experience. So, it’s pleasing to see how learning about finances can affect your decisions once you start to understand it.

Many children do not understand the concept of money and financial literacy. The earlier we expose them, the earlier they can take control of their financial future. Early financial literacy can be so beneficial for our young generation. It can shape how they make decisions, what lifestyle to live, how far to go into debt, how far our money will go, and so on. If you are interested in following my journey and their journey, follow them on Instagram and email subscribe to get alerts of latest posts or follow me on Facebook, Instagram, and Pinterest.