Are We Really Trusting Our Children’s Financial Intelligence to the School System?

Let’s be honest, how many of us graduated high school feeling equipped to manage money, invest in our futures, or confidently navigate financial decisions? If you’re like most parents including myself, the answer is probably “not at all.” In reality, the American school system has historically failed to prioritize personal finance, investing, or entrepreneurship. Sure, some schools have started to add financial literacy classes, but are we really willing to leave our children’s financial futures in the hands of a system that values test scores over real-world skills?

What exactly did the school system teach us about money? For decades, American students were taught to aim for good grades, graduate high school, and go to college as a one-size-fits-all solution for success. But beyond balancing a checkbook, a skill that’s nearly obsolete today, most schools have left students clueless about how to budget, save, invest, or understand the basics of the economy. Investing? Rarely discussed. Entrepreneurship? Even less so. You should hear the questions I get from students about money. One thought a 401k was a road race asking how many miles it was to run that far. Another asked me how late an ATM is open. I laugh on the inside, but I understand that no one is talking to them to help build their financial intelligence.

The question we have to ask ourselves as parents is: Did we graduate prepared to handle financial events in our lives confidently? For most, the answer is a resounding no. Think of being bombarded with credit cards at 18-year-olds and racking up debt we had no way to repay. Think student loan debt. Raise your hand if you had no business signing that promissory note. Many of us had to learn the hard way that we were unprepared for our financial life upon graduation from high school and even college; through debt, failed investments, or the stress of living paycheck to paycheck. So why would we expect our children to be any better prepared if we rely solely on the same system that failed us?

There is a growing trend in our nation that makes us think that schools are required to teach financial literacy to students before they graduate. As of 2024, only half the states require a personal finance course before graduating. In most cases, those classes are economic classes that don’t build the skills our kids need to manage money properly. The school system’s focus has always been on academics and standardized testing, not real-world skills. While college may be the right path for some, it’s not the answer for everyone. Even for those who pursue higher education, the lack of financial knowledge can lead to crippling student debt and poor money management.

So the real question becomes: Are we doing enough as parents to ensure our kids are financially prepared for life? Because if we rely solely on schools, the answer is no. We are responsible for teaching our kids what schools often won’t: how to earn, save, invest, budget, and think like entrepreneurs. I know, some of us as parents may not know this information ourselves, or at least that’s what we think.

The good news is that you don’t have to be a financial expert to give your kids a head start. No matter their age, here are a few steps you can take today to help your children build the skills and character they need to handle their finances confidently:

1.      Start Conversations About Money Normalize talking about money at home. Discuss your household budget, explain the difference between needs and wants, and share your financial successes and mistakes.

2.      Teach the Basics of Saving and Investing Open a custodial savings or investment account for your child. Use it as a teaching tool to explain compound interest, market growth, and the importance of long-term financial planning.

3.      Encourage Entrepreneurial Thinking Help your kids find creative ways to earn money. Whether it’s monetizing a talent or starting a small business, entrepreneurial skills teach responsibility and problem-solving.

4.      Use Real-Life Scenarios Involve your kids in everyday financial decisions, like grocery shopping on a budget or planning a family trip. Let them see how money is spent thoughtfully.

5.      Provide Resources Invest in books, games, programs, and apps that engage and are age-appropriate for financial literacy. Make learning about money fun, not intimidating.

Our kids deserve better than to stumble into adulthood financially unprepared. As parents, it’s up to us to fill the gaps the school system leaves behind. Even if we don’t know or implement these skills ourselves, we can learn for ourselves and pass on the knowledge as we improve. By taking small, consistent steps to teach our kids about personal finance, we can set them up for a lifetime of success where they are confident, capable, and ready to thrive in the real world.

The question isn’t just whether we trust schools to teach financial literacy. The real question is: Are we ready to take responsibility for ensuring our kids are prepared for the financial challenges ahead? And if you need help, join my community so we can help each other grow. Let’s start today.

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