“Don’t spend all your money in one place,” he said. “Follow the guidelines that you’ve been taught like not spending money on things (just because you want it).”
While he also has yet to take financial literacy in school, Osiris expects to be better prepared because of the head start he received at home.
Julie Felshaw, financial and economic education specialist for the Utah Office of Education, was instrumental in developing the state’s financial literacy program. She said the goal of the program is to help students develop objectives for financial goals and planning, career and income planning and money management, along with saving, investing and retirement.
“What we hope is that we’re giving them a basic understanding and planting seeds as well as helping them to be savvy about money,” she said. Students who are not exposed to money management are at risk for some of the financial pitfalls that exist for those who lack education regarding finances, but there is still plenty of time to take advantage of the principles taught in the classroom, she said.
Felshaw said students are taught that every financial decision they make increases or decreases their personal power.
“You want kids to pay attention to money, learn how to earn it, how to spend it, how to save it and how to share it,” she added.
“Money is an important issue in life and no one escapes it,” Felshaw said. “Therefore, the smarter you are about it, the better off you will be and the more choices you will have.”