Teaching Kids to Pay The Bills

Did you get much education relating to personal finance when you were in school?  Many of us learn life lesson when it comes to money through trial and error.  What if you didn’t have to learn by stumbling through the process yourself?

This innovative program by Capital One Bank is teaching 7th graders basic life skills about handling money.  Each child is given a specific like situation (married with kids, single with kids, single no kids, student, etc.) and must navigate through bills, taxes, food and clothing for their families.

Many of us could use these lessons as adults!

 


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10 thoughts on “Teaching Kids to Pay The Bills

  • I used to teach high school students personal finance. In order to keep the skills they learned from me, they had to practice them. Parents should reinforce what is learned in school to help their children be successful.

  • When my family goes out shopping, I allow my kids to bring a part of their savings should they want something to buy. They line up the cashier and pay for their purchase using their own money.

  • Kids also the part of society and they must be skilled about handle the money. Handle the money is definitely a big deal as it needs a sharp observation and mathematics.

  • I think the education is great but dubious of Capital One being the sponsor! As much as I want to believe they are doing it for the good of the people I wonder how much the program demonises it’s credit cards or if it actually tries to build them in as a so called responsible thing to use! Of course I could be wrong :).

  • MY eldest understands budgets – and debt – and more importantly the concepts of both compound interest in relation to savings and for instance a mortgage.

    Sure he is only 12 – but he sees “Money Management” as a part of running a home. Money holds no mystique for him, its a commodity like any other that passes through our home.

    He understands investing for his future – be that financially or in taking his education seriously and how you can set and achieve goals.

    Bit proud of him TBH – wish his little brother was so amenable LOL

  • I certainly like this initiative from Capital One Bank. I am all for financial literacy at a young age and you are right a lot of adults could use a refresher on this too. Actually, I believe that financial literacy is a lifelong process and endeavour.

  • Financial literacy will lead to financial responsibility, and that is exactly what America needs right now. With this culture of consumerism being the root cause of why we are in a major problem right now, I think Capital One Bank’s initiative to better train the youth on how to pay their bills on time is a great step.

    I just hope they don’t forget what they have learned when they grow up – something that is an unusually common human trait these days. I always make sure I back what the kids learn in school about money with giving them practical responsibilities such as reminding me about my dues etc.

    Regards,

    Henry

  • Financial education must not be taught only on the 7th grade, rather it must also be offered to the adults. The success of this program will determine whether the youth of today will grow responsible in terms of financial issues.

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