Question of the Day: What Five Personal Finance Skills Should Everybody Have?

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Dec 04, 2014
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Question of the Day, Personal Finance, Financial Literacy

From Christian Science Monitor:

  • Manage a savings/checking account
  • Understand how credit scores work
  • Understand how stock market works and 401(k)s and Roth IRAs
  • Understand tax system
  • Budget your income/expenses

See what other answers your students come up with and also have them elaborate on why they think these skills are important.

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Check out the NGPF Lesson Library which has lessons to develop each of these skills (Taxes coming soon!)

About the Author

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.

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