The Importance of Financial Literacy in Schools: Because Counting on Your Fingers Alone Won't Make You Wealthy

I'm sure most of us in school were taught quite of bit of math like, geometry, calculus or even trigonometry but not one teacher from school is teaching about how to balance a checkbook or avoid the struggles of credit card debt. It's about time to teach financial literacy in schools all over! Here’s why teaching kids about money matters—because unless you would like them to live off of bologna sandwiches forever, you would want them to know how to manage their finances and gain financial freedom.

Let's Learn the Money Language

Picture this: a classroom full of kids learning how to budget for a birthday party. Suddenly, one kid asked the teacher could she buy the whole entire class unicorns? Sure, it sounds like an awesome idea, but when it comes to real-life finances, unicorns are definitely out of the budget (due to inflation of course). Teaching students about money management can help them understand the difference between needs and wants, and how to make their dreams (all unicorns aside) a reality.

Here is Why Financial Literacy Matters

1. It's About More Than Just Pennies and Dimes

Financial literacy teaches kids about budgeting, saving, investing, and yes, even how to avoid the struggle of impulse buying (and that goes for you too with your mid-night amazon shopping self!). By equipping students with these skills, we’re giving them the tools to make better decisions about their money—so they won’t have to grow up working jobs and always a paycheck away from poverty.

2. Debt: That Horrible Guest that NEVER brings Anything to the Gathering, But Always Have To-Go Plates Taking Food

Imagine throwing a party and finding out that debt showed up uninvited, bringing along high interest rates and fees. Not fun, right? Financial education in schools helps students understand how to manage debt responsibly. They'll learn that taking out a loan isn’t like borrowing a pen from a classmate—it comes with responsibilities and sometimes a hefty price tag.

1. Savings: That Word Has a Nice Ring to it!

Remember that feeling when you find a twenty-dollar bill in your jacket pocket? Now imagine feeling that way every month! Financial literacy teaches the importance of saving—whether it’s for a rainy day, a shiny new gadget, or even a future vacation (hello, Mexico!). Schools should encourage children to build their savings, not just their Pokémon card collection. (Although I am a huge fan of Pickachu).

4. Investing: Your Money Has a Job to Do!

Let’s be real: no one wants to be that person still working at 80 because they forgot to invest in their twenties. Financial education introduces concepts like stocks, bonds, real estate (my favorite since I am a REALTOR) and compound interest—making them less scary and more exciting. Think of it as planting a money tree: the earlier you start, the bigger it grows!

The Long-Term Benefits of Financial Education

1. Empowered Decision-Making

When students understand how money works, they can make smarter choices. Whether it's selecting the right bank account to place their money in or deciding between a new car or saving for college, financial literacy empowers them to think critically and confidently about their money.

2. Breaking the Cycle of Poverty

Education is a powerful tool. By teaching financial literacy in schools, we can help break the cycle of poverty. Students from all backgrounds will have the knowledge to build wealth, plan for the future, and avoid the pitfalls that come with poor financial decisions.

3.. A Brighter Future for Everyone

Imagine a world where everyone knows how to budget, save, and invest wisely. Financially literate individuals contribute positively to the economy, making informed choices that benefit not just themselves but their communities as well. It’s a win-win!

Conclusion: Counting on More Than Just Fingers (and Toes)

So, let’s stop relying on our fingers and start embracing the power of financial literacy in schools. It’s time to teach our kids that money management is not just a subject to pass but a life skill to master. Because in the end, those who understand their finances won’t just be counting their coins; they’ll be counting their successes!