The price of earning a college degree has increased dramatically over the past decade. The amount of student loans now surpasses credit card debt in the U.S., having reached more than $1 trillion in 2013. Furthermore, for students and their parents, the complicated logistics of financing college can be overwhelming. Below are tips to consider when navigating the maze of financial options.
Research shows that only one-third of parents discuss financial issues with their children, and only one out of seven parents believes their children have a solid understanding of financial matters. In addition, the majority of children determine their attitudes about money by the time they finish fifth grade. As a result, many states are beginning to emphasize the need for personal finance education for children. Below are ten personal finance principles that every child should know.
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