A large part of the reason so many Americans have financial trouble today is the lack of money education received as a child. Think about it. Other than counting change to make a dollar, what money keeping techniques did you learn in elementary school? Probably not much.

Fortunately for our children this trend is changing. Children are learning more advanced money management at a much earlier age. Even in the elementary level (K-5) students are being given projects and homework in regards to basic money management skills. A fourth grader can likely tell you how much interest accrues over a 10 year period if you save your money rather than spend your money. Over time this will create a money smart generation and, hopefully a better economy overall.

Take a peek at what your kids are learning in regards to money and finances. You might be pleasantly surprised to find that they know how a savings and checking account work. If they haven’t learned it yet, don’t be afraid to start now. Give them basic projects, and maybe even a small allowance as an example of income. It’s amazing how quickly they learn when to save and when to spend.

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