Kids Need to Learn About Money and Credit at an Early Age

This past week I was busy preparing applications and proposals for submission to different school districts here in Michigan for a youth after school program focused on financial literacy.

I feel it's especially important for children to learn about money and credit at an early age so they can develop a strong foundation upon which to navigate the unavoidable financial facts of life.

Without some sense of financial awareness and some basic money management skills under their belt, children are put at a great disadvantage as they progress through different stages of life that are impacted by money and credit, such as graduation, marriage, home ownership, parenthood and retirement.

It's really a shame that so many young people lack a basic understanding of money. But it really comes as no surprise considering most children in this country never take a personal finance course by the time they graduate from high school.

School systems all across the country struggle with just making sure students meet the basic requirements for core subjects, like reading and math. So there's really no room for incorporating financial concepts into the curriculum. And with all of the budget constraints a lot of school districts face, many are not able to offer extra-curricular or developmental programs and activities related to personal finance. Financial literacy in schools is a national concern, but it is not currently a national priority.

And to add fuel to the fire, unfortunately, financial matters are not really at the forefront of what parents and guardians focus on teaching their children at home.

So how are these kids supposed to learn about money and credit?

Well, hopefully through an after school program like ours.

We'd hate for the kids to learn about fiscal responsibility the hard way through the "School of Trial and Error" or the "School of Hard Knocks," like a lot of adults already have. We want to see the children succeed and prosper in all of their financial endeavors as they move through life.

Credit Hour is strongly committed to preparing the youth to become more knowledgeable consumers, wise savers and investors, responsible users of credit, and smart decision makers.

So, let's hope all goes well with our pitch to the different school districts with our after school program.

The more children we reach, the more children we teach. And then each one will teach one. :-)