It's never too early to learn to manage money
Wednesday, April 09, 2014 11:00 AM
Once we got over the irony of a political figure telling us how to manage our money, we took Indiana Secretary of State Connie Lawson's comments to heart.
April is Financial Literacy Month, and Lawson in recommending all Hoosier children be taught how to manage money.
Lawson should have included public officials at the local, state and federal levels as well.
"Most adults report they learned their financial skills from their parents or were self-taught, but only 26 percent of 13 to 21 year olds surveyed said their parents taught them how to manage money," according to a release from Lawson's office. "Forty-one percent of U.S. adults ... gave themselves a grade of C, D or F on their knowledge of personal finance, leaving substantial room for improvement."
There's no time like the present to start improving our financial literacy, and fortunately there are many tools at our disposal to do so, no matter our age.
"Parents can access information and tools to get the conversation started for free through the Secretary of State's Indiana Investment Watch program online at www.indianainvestmentwatch.com," according to Lawson. "Parents should start the conversation by talking to their kids about the basics such as how earning money works, how to save and how to budget."
It's also not too late to help ourselves. The secretary's site also offers "information for (parents) on the basics of budgeting, debt management, investment advice and retirement planning."
We should make the effort this month to show the next generation they need to take it seriously.