Financial literacy has become increasingly valuable for teenagers in today’s dynamic economy. However, many students have found a lack of education in this area.
SHS senior Clara Adams remarked on her limited understanding of financial literacy. While her parents have tried to educate her about personal finance, she said that on a scale of 1-10, she ranks her understanding of investing at the low level of a 2. SHS students have various opportunities to learn about investing and personal finance; however, none of these courses are mandatory, contributing to the number of students unaware of financial literacy’s importance.
Senior Gracelyn Veiga is currently taking Investing and Personal Finance at SHS. She has similar feelings regarding financial literacy. Though she entered the class with a “significant amount of financial knowledge,” she wished the course was geared more toward “teaching students how to open accounts” and walking them through the necessary steps to invest in the real market.
SHS business teacher Eric Fagurland teaches Investing and Personal Finance. He said learning financial literacy is imperative for teenagers, and he takes pride in educating his students on finance fundamentals. After learning from experience, Fagurland commented that life is costly, and students need to assess how they will effectively navigate their future. Fagurland remarked that if teenagers do not learn how to manage their assets before they become financially independent, they will be more likely to accumulate debt and struggle to create a budget.
The key to avoiding a financial crisis is learning to save and invest for one’s future. Fagurland suggests researching investment options on https://finance.yahoo.com to start. Likewise, teenagers can start small and monitor their investments as they grow. With plentiful resources available on the internet, teenagers can start their journey of saving and investing today.
Former financial advisor Bruce Beagley, who worked for Merrill Lynch for over 47 years, agrees teenagers need to start investing early. Starting his career in sales, Beagley found his passion for finance through his father, who studied finance after leaving the Navy. Beagley’s father graduated from Wharton with his MBA and went on to work for Merrill Lynch, making their legacy within financial advising for three generations.
With his vast experience, Beagley advised teenagers to start “saving a little from every paycheck.” He commented that even though it’s a “tough sacrifice” and takes discipline, it is important to be able to start investing your money because it’s “never too early to start.”
Beagley noted that it is better to open an account and start small because at least there is money growing through investments rather than money sitting stagnant in a savings account. The number one piece of advice Beagley stresses is that when you start investing, make sure to diversify: He said, “Don’t put all your eggs in one basket!”