Resources: Educator ResourcesWhether you teach kindergarten or college, the New Jersey Society of CPAs can help provide you with resources to teach your students about financial literacy.
Financial literacy is a growing problem for every income group in our society, particularly for our young people. The statistics are staggering. Look at some of the troubling numbers:
- Among parents with children aged 5 or older, only 26 percent feel well prepared to teach their kids about basic personal finances.
- 54 percent of parents have not discussed the difference between "needs" vs. "wants" to their children.
- Only one in five parents (20 percent) largely involves their teen in the family’s budgeting and spending decisions.
- 55 percent of parents with children aged 16-24 voice concern over their children's ability to become financially independent without monetary assistance from them.
- 31 percent of college students do not worry about debt, believing that they can pay it back once they are out of school and earning a regular paycheck.
The financial scene is more complicated than ever before. There are millions of financial choices out there, but a real lack of understanding exists. More than ever our students need training in everything from budgeting and savings to credit cards and debt management. And it’s best when financial education starts early.
The New Jersey Society of CPAs (NJSCPA) is responding to these needs and is taking a leadership role in educating everyone from school-age children to young adults. For more information on the financial education of our New Jersey students, please contact Ridge Kennedy at firstname.lastname@example.org or 973-226-4494 x250.