Money-management skills give teens hope for future

Our young people look to their parents for inspiration and guidance. When we’re young, the world seems limitless, and one of the most important jobs a parent has is to nurture their child’s dreams that they can do and be whatever they want.
That is the gift of youth, the time for optimism and hope.
Yet a new survey conducted by Junior Achievement USA and The Allstate Foundation shows us our teens are thinking differently – at least in terms of their financial security and independence. Teens are no longer as confident in their ability to achieve financial freedom. The survey of more than 1,000 14-18 year-old teens found that only 56 percent think they will be as financially well-off or better than their parents. That represents a 37 percent drop from 2011.
What happened to the dream of a better tomorrow? How do we help our teens – our future – get it back?
Despite recent reports that this will be the first generation in a century that is unlikely to end up better off financially than its parents, our young people have the opportunity to shape their own futures, as long as they have the skills, knowledge and confidence to do so.
Since parents are still the No. 1 source of money-management information for youth, according to teens in our survey, it is vital for parents to continue to open a dialogue with their children about smart money-management practices. By many counts, the economy is looking up, so let’s make sure our young adults are following suit – learning about money management, understanding the importance of saving and using a budget. Parents, you don’t have to do it alone. At Junior Achievement (JA), we are committed to preparing students from kindergarten through high school to own their economic success. We understand that preparing our youth to be financially literate is more complex than teaching them to put their pennies in a piggy bank, which is why JA has developed relevant programs crafted to meet the needs of an ever-changing environment. In fact, with support from The Allstate Foundation, we have created a series of free, downloadable money-management activities for parents to do with their children, to help open the sometimes awkward conversation about money.
Junior Achievement of Rhode Island is the state’s largest organization dedicated to giving young people the knowledge and skills they need to own their economic success, plan for their future, and make smart academic and economic choices. JA programs are delivered by corporate and community volunteers, and provide relevant, hands-on, experiences that give students from kindergarten through high school knowledge and skills in financial literacy, work-readiness and entrepreneurship.
Today, JA reaches more than 7 percent of the Rhode Island student population each year in more than 26 communities across Rhode Island. Visit our website at jarhodeisland.org for more information or on Facebook at www.facebook.com/
juniorachievementri.
Let us help our young adults revive optimism, the gift of youth! •


Lee Lewis is president of Junior Achievement of Rhode Island.

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