Hey parents of 2019 graduates! I have a quick question for you all. I am currently a graduate student and I am nervous about handling my own personal finances once the real world really kicks in. I feel like many of my friends feel the same and I’ve talked to parents who have worried about their kids handling their finances once the real world hits for them. I’ve seen courses that give you a whole bunch of information on financial literacy and you have homework and tests like any other class, but this doesn’t seem quite as helpful as the experience of actually putting your money into certain areas and seeing how it reacts. Or being able to do a quick cost-analysis and make smart decisions that will keep your money safe and hopefully continually growing. I am planning out the details for creating an application that simulates the financial real world for college or even high-school students and allows them the closest actual experience to responsibly handling their money. This means 401k’s, IRAs, tax, interest rates, and all that confusing jazz that no high-school or college kid really understands. But before I do so, I wanted to ask, do any of you guys see value in such a program? Just to clarify, I am by no means trying to sell anyone anything, I’m just seeing if other parents see any value in trying to create a more effective program to build a foundation for financial literacy in the younger demographic of America.
Thanks you guys so much for reading and I hope everyone is staying safe and healthy in these trying times!