SMS 149 – Financial Literacy

Why financial literacy is important
1. Personal finance touches all aspects of your life
2. It will serve you for your entire life
3. Builds self-confidence
4. Develops big picture thinking

Possible target groups – secondary school or post secondary school

Why financial literacy might not work in High School
1. Maturity is not ready (no urgency)
2. Peer pressure
3. Mandatory vs optional
4. Parent are too strong of a role model
5. The stakes are too low

Financial Literacy Topics:
1. 90% behaviour 10% math – develop life long habits and self-discipline
2. Spend less than you earn – a documented budget is a requirement
3. Credit does not solve problems – it makes them worse
4. Life does not always go as planned – and that’s ok
5. Develop the self discipline to save money – and not spend it
6. Document your goals and dreams
7. Develop a value system – this will evolve as your grow

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