Question of the Day: What Five Personal Finance Skills Should Everybody Have?
- 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.
Check out the NGPF Lesson Library which has lessons to develop each of these skills (Taxes coming soon!)
About the Author
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.