The short answer is: Yes!
But, I think you already knew that.
But, why do they need to learn it and why in high school?
Here’s part 2 (of 5) of the long answer:
(Need to catch up? Here’s Part 1)
2. Money is Essential for Living
The main reason they need knowledge about and practice with money is to be prepared for living on their own and in their own families.
As you know, money is essential to provide the necessities of life: food, water, clothing, shelter, electricity, and transportation.
Last week, I mentioned a principle that is illustrated in Maslow’s Hierarchy of needs (pictured below). Maslow identified that it is important to have our physical needs met before we can have needs higher up on the pyramid met.
For example, how hard is it for you to pay attention at church when you are hungry?
Being able to grow, progress, serve, and fulfill our life missions requires us to be in a state of thriving and not just surviving. We need the physical and mental capacity to do more than the bare minimum in this life.
Once upon a time, there was a woman named Jane. Her life mission was to strengthen families. Her dream was to build family reunion centers where families could create memories together and strengthen their relationships.
These centers would have cabins for families and couples, a large building with a large kitchen and dining area, a playroom, and a comfortable gathering room. There would be a man-made or natural lake on the property for families to go boating, kayaking, or swimming. Families could hike, bike, play pickle ball or basketball outside. There would be quads and side-by-sides for exploring the area.
Jane knew these family reunion centers would cost millions, so she needed to be wise and save and invest her money, so she could become a multi-millionaire.
Through managing her money wisely, avoiding debt, saving, and investing, Jane successfully became a multi-millionaire. Because she managed her money well, she was able to build family reunion centers across the country. Families now gather together and make bonding memories year after year at these centers Jane created.
In order to fulfill our life missions, like Jane did, we need to be able to do more than just survive. We need the resources to be able to thrive and grow and serve.
If teenagers earn money and learn how to manage it now, they will be more prepared for when they move out of the house, because earning money and using it wisely will not be a new skill for them. This will better prepare them for college and a career and life in general, and for fulfilling their life missions.
Making a difference in this world requires more of us and our resources than simply living a nice life at home. We need to teach our children how to prosper financially, so they can make a difference in their sphere of influence and fulfill their life missions, which come from God.
Don’t know where to start to help your teen learn to manage money wisely? First they need to earn money. Sign up for The Teen Job Guide: 70+ Interest-Driven Jobs for Teens below (it’s FREE).