Does 14 seem too early to teach your teenager some finance skills? Not at all: it’s honestly never too soon to teach them about money to improve their cash-management abilities.
After all, so many young adults struggle with debt caused by bad financial literacy. Thankfully, teens in this age range can easily master general finance skills by taking finance training for teens.
Learning Finance in School
These days, many high schools recognize the importance of financial literacy and offer courses to teach students how to manage money effectively. In a world where debt continues to spiral, and student loans could impact your children, teaching them better money skills is essential. Schools cover finance subjects in various courses throughout your teen’s career.
For example, financial literacy courses for high schoolers cover basic financial skills such as budgeting, saving, and understanding credit. They might also introduce concepts like taxes and insurance. In economics classes, your teens may learn personal finance and macroeconomic principles that affect personal finance decisions, such as how to save money for school.
In some schools, teachers integrate financial concepts into math courses to help students apply mathematical skills in practical financial contexts. These courses help your teen earn a foundational understanding of finance, one that is crucial for managing their personal and professional lives. They might even come back and teach you important budgeting skills.
Learning Finance Outside of School
For students seeking further enrichment or whose schools do not offer extensive finance education, there are additional learning opportunities. You can set your child up for these even if they have finance classes in school: why not make sure they REALLY know what they’re doing with their money? Here are a few business education lessons for high schoolers options that might work well for them:
- Non-School Programs: Universities, colleges, and private institutions offer advanced learning programs that focus more intensively on specific areas, such as investing or advanced budgeting techniques. These programs are great for a money-savvy teen!
- Summer Finance Boot Camps: Intensive programs, such as those offered by NextGen Bootcamp, provide a deep dive into financial topics. These can teach your teen real-world applications and advanced content not typically covered in high schools.
Why Learn Finance as a High School Student?
The benefits of finance courses for high schoolers at a young age are numerous and impactful. First, your teen will learn proper budget planning and understand how to manage money effectively to make informed decisions about spending and saving. Surprisingly, financial classes can also help with math by focusing on financial calculations, like interest rates and investment growth.
Furthermore, a finance course can help your student a) prepare for college by knowing how to manage personal finances (most will be doing so independently for the first time) and b) give them early exposure to finance for those interested in careers in banking, investment, insurance, or any sector where this knowledge is crucial. It’s never too late to start saving!
Topics in Financial Education
Any teen interested in attending finance bootcamps for high schoolers will start on very basic courses (that cover elementary concepts, like basic saving ideas) and progress to more advanced knowledge. In this way, your teen will work their way up to mastery without getting too confused or upset.
Beginner-Level Concepts
- Basic Budgeting: Early courses teach students how to plan and track personal spending in their life.They’re great for a teen who’s never taken care of their own money before.
- Understanding Credit: Learning about the basics of credit scores, credit reports, and the importance of maintaining good credit can help a teen prepare for college and a career.
- Simple Investing: Getting an introduction to simple investment vehicles like stocks, bonds, and mutual funds may help your teen if they plan on getting into advanced finance careers.
More Challenging Concepts
- Advanced Investing Strategies: More advanced concepts like options, futures, and other more complex investment instruments help teens make good money after graduating from college.
- Risk Management: By understanding insurance products and the ways to protect their personal assets, teens can reduce their chance of losing out financially.
- Economic Indicators: Learning how broader economic conditions affect personal finance and investments can prepare your teen for a real career in business.
NextGen Bootcamp Finance Programs
NextGen Bootcamp offers programs specifically designed to advance financial education for high school students. Covering general subjects on multiple topics (such as digital marketing, social media marketing, and coding) in summer-based bootcamps that prepare your teen for work in tight-knit, exciting, and project-based courses that they’ll really enjoy taking.
Excel, Finance, & Investing Summer Program NYC
Excel, Finance, & Investing Summer Program NYC teaches your teen about Microsoft Excel (including using it to manage finances), important investing tips, business tips, and much more. This fast-paced one-week class includes real-world projects to build your child’s skills.
Excel, Finance, & Investing Summer Program Online
Excel, Finance, & Investing Summer Program Online is the online version of the previous course that’s available to teens outside the New York City region. Like with that class, your teen will work with real-world projects to master important financial concepts quickly and efficiently.
FinTech Summer Program Live Online
FinTech Summer Program Live Online teaches important financial tech information, including stock market investing, Python programming (for data science), and more in a small-scale setting that includes fascinating exercises that your teen will enjoy.
AP Exams Related to Finance
While there is no specific AP exam titled "Finance," relevant exams include AP Economics (both Microeconomics and Macroeconomics) that cover essential financial principles applicable to personal and corporate finance. Success in these finance bootcamps for teenagers can help your teen demonstrate knowledge in economics before applying for college, thus proving their skills.
Even better, your teen can earn college credits (high scores on these AP exams may grant college credit) so that they can advance more quickly in their college careers. Then, they can transition to an exciting job in financial sectors by getting a foundational understanding beneficial in internships and entry-level positions in the financial sector.