Personal finance covers a lot of topics. The national financial literacy standards serve as a guideline for states, districts, and schools incorporating personal finance concepts into their curricula. Check out resources for you to strengthen these topics at home.
How is income determined and how might people increase their income or job opportunities?
Talk to your kids about career choices, whether going to college makes sense, and how they might lower their school expenses with these resources from Federal Student Aid. Play the payback game from NextGen Personal Finance to explore the costs of education, living expenses, and what repayment might add up to. You can also check out these resources from Thrivent on how to plan a path to college.
How do people decide what goods and services to buy? How can people improve their economic well-being by making informed decisions?
The Kiplinger Washington Editors provide a household budget worksheet to help you create a family budget together.
Why do people save? What affects the value of savings?
Discuss how savings add up with interest with suggestions from Beth Kobliner. You could also research why inflation may make money worth less tomorrow than it is today.
How is credit used and what influences credit options and costs? One starting place might be learning how to help your kid to use credit wisely with resources from Schwab MoneyWise.
What is financial investing and how do investors choose among different options? You can start learning some Key Investing Concepts, provided by FINRA.
These topics are based on the National Standards for Financial Literacy, developed by the Council for Economic Education.
