Parents who care for both their kids and an aging family member are more reluctant to discuss money with their kids and miss opportunities to talk to them about it
T. Rowe Price’s 2019 Parents, Kids & Money Survey, which sampled 1,005 parents of 8 to 14 year olds and their kids, found that stress among parents who are caring for both their kids and aging family members, commonly known as the sandwich generation, is negatively impacting their money habits and their kids’ money habits.
Financial literacy is a key pillar for financial inclusion, and a critical success factor to achieve at least nine of the 17 United Nations Sustainable Development Goals (SDGs). For instance, eliminating poverty and achieving gender equality is simply not possible when two thirds of adults worldwide remain financially illiterate and women continue to trail men in financial decision making.
Since 2012, The Republic of Tea has donated $148,737 to Whole Planet Foundation to fund 2,093 microloans around the globe. This year, they launched their own program to amplify this work. Working with the international nonprofit, the Ethical Tea Partnership, and a local nonprofit, the PALM Foundation, The Republic of Tea has crafted a program in Sri Lanka focused on nutrition, hygiene, and financial literacy, with the goal of elevating thousands of women and their families.
Discover Survey Suggests Financial Education Courses Are Helping Americans Become More Confident with their Finances
RIVERWOODS, Ill., November 1, 2018 / 3BL Media/ – Fifty-nine percent of Americans ages 18-26 who have taken a financial education course believe the lessons will save them more than $10,000 over the course of their lifetimes, according to a new survey from Discover.
“Dear Ms. Christoff,” the email began, “My name is Olivia Perini, and I am a 9th grade student at Harrison High School in New York. For our high school DECA club project, my two partners and I were assigned the task of coming up with a financial literacy promotion. We chose to use the T. Rowe Price Star Banks Adventure app to promote financial literacy in the school.”
You’ve earned the diploma, said good-bye to teachers and friends and are about to enter the workforce full-time. Getting that first paycheck marks the perfect time to adopt healthy financial habits that will benefit you for the rest of your life.
By Rich Ramassini
Congratulations! You just graduated and are about to embark on an exciting rite of passage: starting your career.
It can be empowering, scary and thrilling all at the same time. You are taking an important step toward financial independence.
However, as they say, with great power comes great responsibility. You will be taking home a regular paycheck and will face many choices when it comes to spending that hard-earned money.