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Tips on teaching kids about money

The Christian Science Monitor – Staff Writer

“Since kids may not get a lot of personal finance education in school, teaching them about money is largely up to parents and other caregivers. Here, organized mostly by age level, are some important lessons you can teach your kids to help them develop good personal finance habits.”(more)

Paying tuition in 2017? These tax breaks could save you thousands

USA Today – Matthew Frankel

“If you’re planning to pay tuition in 2017, either for yourself or for a dependent, you may be able to take advantage of one of three valuable tax breaks. The best tuition tax break for you depends on your income and the student’s status in school, and here’s a quick guide to determine which you qualify for. In order of most lucrative to least, here are the three possibilities.”(more)

These Are the ‘Building Blocks’ That Lead to Smart Money Decisions

Time Money – Dan Kadlec

“These three skills are essential, and should begin to be understood as young as 3 years old. How do kids learn sound money practices? The answers have eluded financial educators for years, and the lack of clarity as to what works best has fueled resistance to pouring more resources into the effort, especially in schools. Critics make many valid points. But they also jump to a faulty conclusions. And as Richard Cordray, director of the Consumer Financial Protection Bureau, said recently: “I have never found [the resistance] convincing. To me, all it says is that we simply have not yet been at this work long enough.” The need for broad financial education has never been more apparent.”(more)

Reading + money education + math = beating the summer slide

The Kansas City Star – Steve Rosen

“It’s an age-old problem for parents: how to prevent their kids from hitting the summer slide. Over the past few years, new research has provided a growing body of understanding of how reading books during the summer can prevent the loss of reading proficiency and boost confidence. Worried about math too? Here’s how to address the summer slide in both reading and math: Check out books that teach kids about money and economic concepts in the context of fun. As a bonus, many of these books provide number-crunching lessons as part of the journey.”(more)

College Students Miss Mark on Financial Literacy, Survey Shows

Education News – Raymond Scott

“LendEdu, an online marketplace created to offer student loan borrowers insight into their personal finances and loans without damaging their credit, has released its 2016 College Students and Personal Finance Study — and the results show a high degree of financial uncertainty among college students. The study surveyed current college students on basic personal finance knowledge and tried to gain insight into how they are managing money…In its introduction, the survey acknowledges a general lack of financial literacy in the United Sates. Currently, only 17 states require high school students to take a class in personal finances. Unsurprisingly, the results exhibited students “lacking basic knowledge and confidence” on financial matters…The report makes clear the urgent need for financial literacy coursework…Largely, students are not pulling in high incomes. 27% of students reported that they do not have a source of income, while another 40% of students were working part-time or had an on-campus job. The fact that students are not making much money adds greater emphasis to the need for financial literacy. Students must learn how to make the most of limited funds.”(more)

How Being Multilingual Can Affect Your Financial Future

Odyssey – Serena Hajjar

“With growing interdependence among countries, multilingualism is becoming an increasingly important asset, especially in the workplace. Today, the most prosperous economies in the world are driven by open- and free-trade principles. This requires constant interaction with people from all around the world, people from vastly different cultures. To successfully participate in this globalized economy, it’s important to recognize that not everyone will speak your language (that would be a rather pretentious assumption)…the law of supply and demand plays a significant role in determining the economic value of various languages…to maximize your earning potential, learn a language which is in high demand, but low supply.”(more)