Teaching kids financial literacy could promote a successful futu - KXXV Central Texas News Now

Teaching kids financial literacy could promote a successful future

Source: KXXV Source: KXXV
CENTRAL TEXAS (KXXV) -

Learning to manage your money properly is critical to being a responsible adult - that’s why teaching children will help them manage their money properly in the future.  

Some Central Texas schools have found creative ways to teach their students how to properly deal with finances. It involves creating real life situations that force them to learn how to develop a budget.

April Jones is a 5th grade teacher at Garcia Elementary in Temple. She said she lays down the foundation for her students to build a healthy awareness of money. She said the foundation starts with kids obtaining a job around the classroom.

“I think that it’s really important that we start them young, and we keep them informed as they grow older into young adults. Every two weeks we have a pay day that the kids really enjoy but in addition to that, they have to balance a budget,” Jones said.

Benjamin Hess is an economics teacher at Killeen High School, and he said his senior students also learn to balance budgets which helps prepare them for life right after graduation.  

“Being exposed to things like budgeting, things like renting verses owning, you know it gives students an opportunity to think about how they’re going to do things when they’re out on their own,” Hess said.

Budgeting that includes paying for college, learning how to buy shares on the stock market, and even paying for health insurance are all included in Hess’s projects. And studies show teaching children earlier rather than later could potentially have a major impact on their finances in the future.

“They’re at that age where they want to be independent they want to be grown up and they get to see what it’s like. Having that exposure while you’re young reinforcing it over and over again it clicks better at that older age,” Hess said.

Studies show that kids money habits are formed by the age of 7, so they’re never too young to start learning.

For tips on how to teach your kids healthy money habits starting young click here

Copyright 2017 KXXV. All rights reserved. 

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