In years past, most high school students took a class along the lines of "personal finance." Teens learned basic skills such as running a household on a budget, balancing a checkbook, and how compound interest works. This class set students up for the future with fundamental financial concepts and a level of confidence that they could manage their money in the real world.
Unfortunately, this type of education has been all but eliminated from current school curricula. Sometimes students can take a short seminar taught by someone from a nearby bank or local insurance agency, but many high school students are getting little to no personal finance education. The good news is that there are a lot of online resources for this type of information, but parents or students have to make it a point to seek out the instruction. Here is a list of some of the major age milestones in everyone's life and some of the opportunities for learning about financial topics.
In This Guide
Many parents open a bank account for their young children so they can start saving money for college. Or, they may wait until their kids are a little older so they can help their middle school students learn how to save money on a regular basis. Some ambitious students about to leave middle school might already be saving money to purchase a car in a few years.
Personal Finance Lessons for this Age
Putting money into a savings account on a regular schedule.