1.1 Kids, Parents, and Money: Introduce the idea about raising financially savvy kids and how children need to learn these skills at home. Review the objectives of the class and the time needed.
1.2 The Bad News: Cite statistics that show kids are severely under prepared to manage their financial lives.
Some Smaple statistics include:
Only 21% of students have taken a personal finances class in school (AESC).
50% claim that they get financial information from their friends (AESC).
College Students are bombarded with nearly 20 credit card applications per semester (CNN).
44% of Americans with pre-teens said they didn’t give regular allowances (Lutheran Brotherhood poll).
52% of high school seniors averaged an F on a test administered about financial literacy (Jump Start Coalition).
1.3 The Good News: Cite statistics that show kids can learn
management from parents as well as other statistics that show the importance of needing information from parents. SOme sample statistics include:
94% of students surveyed that they are likely to use their parents as a source of financial information (AESC, 1999).
3 out of 4 teens have a savings or checking account (agnews.edu).
60% of parents said their children had approached them with financial matters (2001 ASEC).
60% of teens save at least half of the money they receive (2001 ASEC).