Clearly, parents need to incorporate money and finances in the skills and values they pass along to their children. And many of them do. But, according to the Council for Economic Education, a nonprofit whose mission is "to reach and teach every child in America about personal finance and economics"
- More than one in six students in the U.S. do not reach the baseline level of proficiency in financial literacy.
- Nearly one-quarter of millennials spend more than they earn.
- 67% of Gen Y have less than three months worth of emergency funds.
The Council for Economic Education seeks to address the need for financial education by providing programs and tools to help families and educators give kids the tools they need to manage and improve their financial lives. These programs include "Never Too Young", designed teach personal finance to K-5 students in after-school/out-of-school settings.
The Council for Economic Education has numerous programs for students of all ages as well as educators and districts. If your child's school does not provide financial education, this might be a good place to begin to persuade them to do so.