Economy and Kids!

Financial Knowledge and Behavior Improve Immediately—and Are Retained

A recently released, national evaluation of a teen financial education program shows that young people who studied the curriculum for as little as 10 hours not only significantly increased their understanding of money management, but also improved their financial behavior in the ensuing months.

The impact evaluation was conducted during the 2003-2004 academic year on the NEFE High School Financial Planning Program® (HSFPP), which is provided to schools at no cost by the National Endowment for Financial Education® (NEFE®). NEFE is the nation’s only nonprofit foundation wholly dedicated to helping Americans take control of their finances.

What every kid, teen, parent, and teacher should know about Social Security. This site provides materials for parents, children, young adults and teachers to learn about Social Security and what it means to you.

Kids’ buying power packs economic punch.

Kathryn Glenn, 17, a senior at Anderson High School in Austin, works several hours each afternoon at her part-time job at a child care center. The job not only gives her valuable work experience – she hopes to possibly pursue a career in elementary education – but also gives her spending money.

“I’m going out of state for college, so I’m trying to save,” says Glenn, who will attend the University of Mississippi next fall. “It’s also just kind of nice to have some spending money. I like to go shopping a lot.”

Knowing how to secure your financial well-being is one of the most important things you’ll ever need in life. You don’t have to be a genius to do it. You just need to know a few basics, form a plan, and be ready to stick to it. No matter how much or little money you have, the important thing is to educate yourself about your opportunities.

If you’re like many parents, you probably dread talking to your children about certain subjects. If you’d rather talk to your kids about the birds and the bees than about money, here’s some information and tips that may make it easier for you.

The Federal Reserve System, also known as "The Fed," is the central bank of the United States. In its role as a central bank, the Fed is a bank for other banks and a bank for the federal government. It was created to provide the nation with a safer, more flexible, and more stable monetary and financial system. Over the years, its role in banking and the economy has expanded. The Federal Reserve System is a network of twelve Federal Reserve Banks and a number of branches under the general oversight of the Board of Governors. The Reserve Banks are the operating arms of the central bank.

When it comes to the current economic crisis, even adults can be confused about how our economy went from boom to gloom in the blink of an eye.

Imagine how your kids are feeling. While they may not read the financial pages, they do read the concern on our faces.

Help your kids understand what your family is doing to weather this recession and ask for the participation.

They'll feel safer being part of a plan and seeing it in action.

Now is also a great opportunity to teach your kids about the basics of money management.

The National Standards in K–12 Personal Finance Education, created and maintained by the Jump$tart Coalition® for Personal Financial Literacy, delineate the personal finance knowledge and skills that K–12 students should possess.

This Life Advice® brochure about Helping Your Child Understand Money was produced by the MetLife Consumer Education Center and reviewed by the Federal Citizen Information Center.

Teach your child about smart saving “But I really need it…“ “If Chris has one, why can’t I?” “Why can’t I have just two more dollars?”

If you’re the parent of a young child, you’re probably used to hearing pleas like these. And you’ve probably wondered what’s the best way to explain why your child can’t have everything he or she wants.