Financial Literacy for Parents: Part 1
Your child had their Junior Achievement program. Now what? You may wonder how you can continue to help your child or teen learn important money skills outside of the classroom.
The increasing complexity of our financial markets continues to reinforce the importance of strong financial literacy.
To ensure your child can successfully navigate their adult life, you may realize that learning about money is just as important as your child being able to read and having good table manners. Welcome to the financial education club!
There are several opportunities available for you to reinforce your child’s understanding of money.
T. Rowe Price and Disney collaborated to create The Great Piggy Banking Adventure, an interactive online game to help children learn the importance of financial planning. Children will set goals, make investment decisions and learn the importance of saving and spending wisely. They will have so much fun, they probably won’t even realize they're learning!
While you’re online, check out our own collaboration with T. Rowe Price by visiting Money Confident Kids. You will find helpful information in talking about family finances while your child can access fun educational activities and even print out their own budget sheets.
Do you have a teenager who wouldn’t really enjoy being told they need to log onto a child’s gaming website?
Not to worry, we have that age group covered, too! Help them get some knowledge out of their computer time by encouraging them to log onto JA Finance Park - Virtual. They will have a real-life scenario laying out their career and family situations, making spending choices and learning to balance their budgets. They'll have to pay taxes, decide what kind of cars they need (a minivan instead of a convertible?), decide on insurance and more. Just try not to say “I told you so!” as they learn just how much work it takes to balance those finances.
Feeling motivated and want to do more?
Visit Junior Achievement $ave to find parent-led Junior Achievement lessons for all ages. These interactive activities will help you start a family conversation about money management. There are age-appropriate lessons for all, whether your child just started elementary school this year or is about to graduate high school.
Want even more?
Sign your child up for one of our Junior Achievement summer camps to keep them engaged over the summer break!
Thanks for joining your child on their journey towards financial literacy! Stay tuned for Part II to learn about how you can be a positive financial role model for your children.