Every parent wants the best for their child, and that includes a first-rate financial education. Unfortunately, whatever we’re doing right now isn’t working when you consider these statistics:
We’ve been looking at root causes. The availability of information doesn’t appear to be one:
- Most school curricula cover money fundamentals – things like compound interest calculation and income tax.
- Most schools offer school banking.
- There are extensive libraries of information like Money Smart covering every money-related question you can think of.
If anything, there’s too MUCH information out there. That’s making it hard for those who haven’t had a financial education to tell what’s useful and what’s not. It’s overwhelming. We think that’s root cause #1 – information overload.
The second major gap we found was at home. Parents haven’t been given the skills to teach their children about money, so unless they’ve won the ovarian lottery like Lacey did, kids don’t learn enough about money at home.
And they should learn at home.
Just like healthy eating, the theory is less than 5% of the result. Schools can teach the theory of healthy eating as well as the theory of good money management. But if little Jane comes home every night to takeaway for dinner, any effort to apply her healthy eating training from school is doomed. It’s the same if Jane comes home to parents that spend more than they earn, use credit cards regularly and don’t know how to invest well.
Parents need to learn about money, and they need simple ways to teach their children about it too. To date, there haven’t been comprehensive training options available for parents to achieve this. We think that’s root cause #2 – lack of parent training.
We’ve set about addressing these two root causes, and we think we’ve nailed it with our parent training.
About our Parent Training
We created the Achieving Financial Independence course with parents in mind.
In it, we teach the nine essential skills needed to achieve financial independence, and as you work through the modules you fill out a workbook that becomes your own financial plan. At the end of each module, we cover activities you can do with your child to teach them those skills and there’s a workbook for your child to fill in as you go.
So, not only do you get on top of your finances and close any of your own niggling knowledge gaps, you get a step-by-step guide to help you raise financially savvy kids. How awesome is that!
The course assumes no prior knowledge. We have pared it down to the essentials and avoided jargon so there’s no overwhelm. It’s your one-stop-shop for raising financially savvy kids.