• Milagros S. Johnson

Financial Literacy Begins at Home

It seems that the more I talk to parents, the more I hear that financial literacy is not talked about at home with children as much as it should be. Instead I’m learning that children are mostly told, “We can’t afford it now!” Parents are not openly discussing money, finance, budget, savings, etc. with their children, leaving it to the schools to do it for them. I’ve been told that they don’t have an open dialogue at home because they were not taught by their parents, they don’t know where to start, they struggle financially and are embarassed, or they have managed to survive without it. You don’t need money to discuss financial literacy. In fact, when a household income is limited, children learn to appreciate it more. Financial literacy teaches them the value of money, as well as the importance of earning and saving it. With financial literacy, parents can stimulate their children to excel in math, and earn an allowance at an early age. Until financial literacy is either introduced or made mandatory in schools at all levels, the bottom line is that early financial lessons starting at home will provide for the financial success of our children. I encourage you to visit your local bank or credit union with your children. Have them meet a bank representative and ask questions. Many banks and credit unions offer savings plans for children with incentives and/or prizes so take advantage of all they have to offer to get you and your children started on a financially-healthy future.  Get your Rainy Day Fund started today. Remember that, “Every penny counts!”  


Milagros S. Johnson

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©2019 by Milagros S. Johnson