Secretary of State Connie Lawson is highlighting National Financial Literacy Month by encouraging parents to talk to their children about money.
Most adults report that 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.
Parents who talk with their children about finances give their children a strong foundation to understand how to use money and credit wisely so they will be financially fit as adults and less likely to stress about financial burdens.
“Forty-one percent of U.S. adults, or more than 92 million people living in America, gave themselves a grade of C, D or F on their knowledge of personal finance, leaving substantial room for improvement,” Lawson said in a press release. “We must teach our children about money so they understand saving, investing and credit. Financial literacy empowers them to make wise choices when spending their hard-earned money, improves their quality of life and enables them to meet their financial goals as adults.”
Parents should start the conversation by talking to their children about the basics such as how earning money works, how to save and how to budget. 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.
Parents can also access information for themselves on the basics of budgeting, debt management, investment advice and retirement planning.
Information is available for Hoosiers at every stage of life and at all levels of financial education.
Lawson will also offer financial literacy tips on Facebook, Twitter and Pintrest throughout the month.