While the United States is an economic superpower, we’re only ranked around the middle of developed countries when it comes to financial literacy for young people. Schools are not doing a good job educating our children about personal finance. Instead, parents must teach their children the basic financial knowledge to succeed in life. Here are three financial lessons from the Motley Fool for you to teach your children how to become financially literate: “How to open a bank account and balance a checkbook, how to wisely and effectively manage credit, and how to use compounding to your advantage.” (fool.com)
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