Talk money with kids during Financial Literacy Month

WLFI File Photo
WLFI File Photo

INDIANAPOLIS (WLFI) – To highlight April as National Financial Literacy Month, Secretary of State Connie Lawson encourages parents to speak to their children about money.

Lawson’s office reports most adults report they learned their financial skills from their parents or were self-taught. But according to a recent survey of individuals 13 to 21 years old, only 26 percent said their parents taught them how to manage money.

Parents who talk with their kids about finances, according to Lawson, give their children a strong foundation to understand how to use money and credit wisely. She said in turn, they will be financially fit as adults and less likely to stress about financial burdens.

“Forty-one percent of U.S. Adults, or more than 92 million people living in America, gave themselves a grade of C, D or F on their knowledge of personal finance, leaving substantial room for improvement.” stated Lawson in a news release. “We must teach our children about money so they understand saving, investing and credit. Financial literacy empowers them to make wise choices when spending their hard-earned money, improves their quality of life and enables them to meet their financial goals as adults.”

Lawson said parents should start with the basics, such as how earning money works, how to save and how to budget.

If parents would like more information on the basics of finance for themselves or resources to help get the conversation started with their children, make an online visit to the Secretary of State’s Indiana Investment Watch program.

In addition, the Secretary of State said she offer financial literacy tips on Facebook, Twitter and Pintrest for the month.

April is National Financial Literacy Month and was established to help Americans learn to make wise investments and improve financial literacy skills.

blog comments powered by Disqus