Financial Literacy for Kids, the Stats!
I decided to share some stats that I’ve found about financial literacy and youth… You will see why this topic is at the forefront for both teachers and parents around the world. For every stat, I have added the take away learning.
- Kids start learning money habits by age 7. They form spending and saving habits very young!
- 1 in 2 parents believes financial literacy should start in elementary school. Parents realize that kids need to learn smart habits early!
- One survey reveals that only 26% of children aged 13–21 said they learned how to manage money from parents. Parents need support to teach financial literacy!
- Another survey states that only 8% of teachers think financial literacy is too hard for elementary school-aged children to understand. Kids can grasp the concepts!
- One study showed that children rated themselves as “poor to average” when it comes to financial knowledge. Kids recognize the learning gap!
- In a survey of kids aged 11–14, 38% wished their parents explained how bank cards work and 36% wished their parents discussed how much things cost and why. They are eager to learn!
These stats prove a few things… Parents and teachers recognize the need for financially literate youth. Kids themselves recognize the need to learn about money and they are ready and willing to do so.
Let’s help them get there! Bright and successful financial futures depend on it.