This text picked by a teacher with suggested questions is a component of the Financial Times free schools access programme. Details/registration here.
Read our full range of US High School economics picks here.
April is recognised as Financial Literacy Month within the US — a time to construct awareness and strengthen money skills that may profit you for all times. On this activity, you’ll explore ten key financial lessons drawn from a recent Financial Times article that highlights money habits to adopt in 2025. While a few of these topics, like retirement or marriage, could seem distant, developing an understanding now can offer you a serious advantage in managing your future funds.
Essential Query: How can developing personal finance habits during highschool prepare you to make smarter, more confident financial decisions throughout maturity?
Review the Financial Times article:
Ten things to tick off your financial to-do list in 2025.
Track your spending: Why is often reviewing your spending habits a key financial skill for teens and adults?
Construct a money plan: Why is an emergency fund vital even for somebody and not using a full-time job?
Understand inheritance and retirement: How might a life insurance policy be used as a type of “inheritance tax insurance” to assist heirs cover costs like estate or gift taxes?
Explore job advantages: What sorts of workplace advantages beyond salary could possibly be vital when comparing jobs?
Know your tax bracket: How can earning just slightly more cash sometimes cause you to lose advantages or face the next tax rate? Do you’ve gotten an choice to pay into an employer-provided retirement plan to cut back your taxable income?
Protect your income: Why might disability insurance — or income protection — be more useful than life insurance for somebody who’s young and dealing?
What on a regular basis accidents, illnesses, or unexpected events could make it hard for somebody to earn a pay cheque, even when just for a number of months?
Understand the financial side of marriage: How can being married impact your financial responsibilities and advantages? What are some examples of tax-related reasons people might decide to marry?
Saving for retirement should start ASAP. Don’t lose track of retirement accounts: Based on the article’s creator, why do retirement savings sometimes get “lost”? What tools or strategies can enable you track down or manage your savings over time?
Know when to ask for help: What are the signs that it’s time to get advice from a financial planner?
Invest with a method: Why is it dangerous to place all of your investment money in only one industry or company? What are some safer ways to diversify your investments?
Joel Miller and James Redelsheimer, Foundation for Economic Education.
Click here for FEE FT Classroom Edition with classroom-ready presentations and suggested answers for teachers.
