Personal Finance for Teens

Personal Management and Finance

Personal management, especially in regards to finance, is sadly not something our teens are learning in school today. We spend money on education and academia while neglecting the necessary life-skills our teens need to thrive in the outside world. We may cry when they leave for college, but at the end of the day no parent wants a 27 year old living in their basement.

The statistics are sobering. 78% of Americans live paycheck to paycheck. 189 million Americans own credit cards, for which they owe $1.04 trillion in debt. Student loan debt is at $1.5 trillion for 44 million borrowers. Americans are personally $12.58 trillion in debt for mortgages, cars, student loans, credit cards, and personal loans. Don’t you want your teen to have the knowledge and skills to avoid getting into debt in the first place?

Teaching your teens budgeting, saving, investing, charitable giving, and healthy spending habits today will reap benefits for a lifetime to come.

Studyville is here to help.  This summer, our staff will be teaching personal management classes that will include a personal finance portion.  Students will learn what credit is, why they need it, and how to get it.  They will learn about loans and interest rates, income and expenditures, how to make a budget, and how to balance the books.  They will explore FinTech and discover apps to help them manage their personal finances.  

In our Business Basics class, students will learn to understand the financial terms in business.  They will learn what EBITDA stands for and what it means, be able to read a P&L, set up a sample business with income and expenditures, and learn the time-value of money.  

Finance is a foreign language our kids need to know.  While schools are teaching French, Studyville is teaching the language of money.  For a generation that will inherit the trillions of dollars in debt we are giving them, this is a vital skill.  At Studyville, we firmly believe that setting a child up for success includes not only AP classes, but necessary life skills to manage their personal office, of which finance plays a huge part. 

Do your high schooler a favor and sign them up now for our Personal Management and Business Basics classes this summer.  Your small investment today will reap a lifetime of rewards for your teen.  

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Amanda Vincent

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