Back-to-School Extra Credit: Raising Financially Savvy Kids

As kids are returning to school across the country, whether virtually or in person, many parents may be taking a more active role in their children’s learning this school year. And with the significant financial impacts of COVID-19 on many U.S. households, there is no better time than this year for parents to help educate their kids on how to be more financially savvy.

Teaching kids about finances doesn’t just help answer the question, “Why do I need to learn math?” — it can also help give kids the confidence to have important conversations about finances when they are older, which is something that nearly half of American adults say they struggle with.¹

To help parents add personal finance to the syllabus this school year, Lincoln Financial has developed financial literacy resources, including a conversation guide, with conversation starter recommendations by age. In addition, there are worksheets that can be used to teach kids about basic financial concepts, so parents can guide their children towards a more secure financial future.

“As a mother myself, I know how hard it can be to help kids understand the differences between needs and wants, as well as the important basics of budgeting,” said Sharon Scanlon, senior vice president, head of customer experience for Retirement Plan Services and Life & Annuity Operations, Lincoln Financial Group. “By using these resources, not only will parents help ensure their children’s financial wellness, but they may even learn something new themselves along the way.”

Click the links below to download these new resources:

• Six financial conversations to have with kids
• A guide to having financial conversations with your kids (pre-teen to young adult)
• Learning the difference between needs and wants worksheet
• Learning the basics on budgeting worksheet

These materials build on a library of articles available on LincolnFinancial.com by New York Times best-selling author Neale Godfrey, with additional tips and tools for raising financially savvy children of any age.