Financial literacy is a critical life skill that often goes overlooked, but its importance cannot be understated. As a parent, I never realized how essential it would be until I saw the impact it had on my own children. Unlike many schools, my kids attended Winooski High School, where a personal finance class is a graduation requirement. This simple mandate has already proven to be invaluable.
Growing up, I never had the opportunity to learn about managing money in school. Instead, I picked up bits and pieces along the way, navigating the financial world as best as I could. But for my kids, the landscape is changing. Both of them now have jobs and are actively saving for college, as well as planning a sibling trip to Europe. What’s more, my 16-year-old daughter has taken it a step further by opening a Roth IRA to save for retirement—her initiative, not ours.
In a time when college costs are soaring, and financial scams are becoming more prevalent, the need for financial literacy among our youth has never been more critical. If your child’s school doesn’t offer a personal finance class, consider exploring alternatives such as the Vermont Virtual Learning Cooperative. My kids took advantage of one of their classes, and the knowledge they gained was invaluable.
Beyond the classroom, there are numerous local resources available to help kids understand the value of money. In Montpelier, for example, Manghis’ Bread, a family-owned bakery, provides elementary school students with hands-on experience in ordering and paying for items, such as their famous 5-cent dinner rolls. This real-world exposure to financial transactions is invaluable in shaping young minds.
Local artists and writers also play a role in educating children about money matters. Illustrator Elisa Järnefelt, in her piece “Use Your Words,” breaks down the process of writing a check—a task that many adults still struggle with. Additionally, Seven Days staffer Ken Picard delves into the intricacies of saving for college or career training through Vermont’s 529 plan, shedding light on the various options available to families.
One of the most exciting events on the horizon is the Young Entrepreneurs’ Fair, where student vendors will showcase their products and entrepreneurial spirit. From artwork and crafts to jewelry and T-shirts, these young business owners are taking charge of their financial futures with creativity and determination. The fair, organized by Seven Days and Kids VT, promises to be a unique opportunity for hands-on learning and community support.
As we look ahead to summer, the search for engaging and educational activities for kids continues. With a plethora of summer camps to choose from, both in this issue and online, there are countless opportunities for children to further develop their financial literacy skills in a fun and interactive setting. Whether it’s through traditional classroom settings, local businesses, or community events, the importance of equipping our youth with the tools to navigate the financial world cannot be overstated.
In conclusion, the journey to financial literacy begins with a single step, and the impact it can have on our children’s future is immeasurable. Let’s continue to support and encourage programs and initiatives that empower our youth to make informed financial decisions, setting them on a path to success and stability.
