How Important is Financial Literacy for Kids and Teens?
Madison believes it is vitally important for children and teens to develop solid financial skills to ready themselves for the financial challenges of adulthood. If children learn to manage money at an early age – how to budget, how to save, how to spend wisely – it will establish good money habits for life.
With this goal in mind, Brad Meeks, Senior Portfolio Manager, and Mark Hogan, Senior Wealth Advisor, share their expertise with the nationally recognized Student Enterprise Program (StEP). Launched by the University of Cincinnati Economics Center, StEP helps teachers and their students learn about saving, investing, and the critical financial literacy skills needed to be effective participants in our economy.
This year, Brad and Mark have had the privilege of working with Amity Elementary students in Deer Park. Meeting four to six times throughout the year, they help advise on financial literacy and economic choices. All told, StEP is expected to reach 5,645 students at 26 Cincinnati area schools during the current school year.
In addition to volunteering for StEP, Brad recently participated in a panel discussion, addressing Archbishop Moeller High School’s Finance and Investment Club. Brad, a Moeller alum, remarked that it was a “great experience with thoughtful questions from the teens ranging from “what’s a portfolio?” to “what’s an accredited investor?” The students expressed great appreciation for the opportunity to hear from Brad and his fellow panelists and benefit from their experience and advice.
Just as we invest portfolios with a long time horizon in mind, Madison believes that teaching children about finances at an early age can have positive and lasting impact over their lifetime. We look forward to continuing our efforts in helping to educate elementary and high school students to become financially literate.