Online Financial Literacy Exercises
There are a number of free resources designed to help parents and educators discuss financial issues with kids of all ages. The President's Advisory Counsel on Financial Capability has created a website, Money As You Grow, which contains practical advice for children at any age. Divided by age range, the site offers not only tips, but directs the users to other online resources to involve the child in the process of learning how money should and should not be used.
For example, for those ages 14-18, the site guides students on choosing a college with the final cost in mind, and suggests using the FAFSA4caster on the FAFSA website. To gain experience with credit cards and interest rates, students can click to the website of the Federal Reserve, to estimate payments on credit card expenses.
With student debt rising, and the ease with which credit cards can be obtained, please take advantage of these resources to keep our kids money smart!