Teaching Financial Literacy to All Ages: Week 4 - college and beyond

This is part four of our financial literacy for all ages series. Here are the links to previous posts: teaching financial literacy to preschool aged children, teaching financial literacy to elementary school aged children, teaching financial literacy to middle and high school aged students. 

So much freedom comes with graduation from grade school, but also so many opportunities to boost or sandbag the future. The teaching and guidance about finances continues even as your young adult enters the "real world."

One of the first major decisions a student faces is whether to pursue higher education. We mentioned shopping around for the best deal on big purchases last week, and this is another time to put that skillset to use. Helping your child decide on college, trade school, military, or going straight to the working world is an exercise in deciding what potential benefit the costs will yield. If you've saved for future education expenses, you can share with your student how much you had to put away each month, and how much interest was earned. You can help them with budgeting what you have available, and/or taking out a student loan.

In early adulthood, whatever career or education path is chosen, the search for a place to live will likely arise. A big expense like a home or apartment likely requires a credit check, which gives you an opportunity to teach about credit reporting. 

All of the lessons you've taught the child under your influence, from counting to ten, to learning to save, to thriving in the "real world" as an adult, build upon each other for a financial future. No matter the age of your child, there is always an opportunity to set a good example or teach a valuable skill. With your guidance and wisdom, your young adult will be ready to take on the world.

For help learning about or beginning to invest for your financial future, call or email us to set up a complimentary consultation.