Kids Are Now Learning Personal Finance in School — 3 Reasons It’s Not Too Late for You

Over half the U.S. states have passed laws that will require high school students to take and pass a personal finance education class before graduation, with momentum quickly growing across the country.

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These curriculum changes come from a growing realization that more Americans need personal finance education, said Julie Beckham, financial education officer at Rockland Trust . The nonprofit Next Gen Personal Finance (NGPF) has been leading the charge with its Mission 2030 campaign, which aims to have all high school students in the U.S. take at least one semester of a personal finance course.

But high schoolers aren’t the only ones who could benefit from personal finance education. Across the U.S., adults only answered 48% of financial literacy questions correctly on average, according to the TIAA Institute-GFLEC Personal Finance Index .

While Gen Z fared the worst on this questionnaire, only answering 37% correctly, older generations still have a lot of room for improvement. Millennials only got 50% right, while Gen X averaged 52%, and boomers got 54%.

Even if you’ve long since graduated and can’t directly take advantage of this growing trend of personal finance being taught in schools, there are still lots of accessible ways to improve your financial literacy.

Doing so can pay off in many ways, such as improving your ability to understand loan terms and therefore reduce the risk of falling into bad debt, along with being able to more confidently invest, save for retirement and accomplish other financial goals.

With that in mind, consider the following reasons it’s not too late to learn more about personal finance .

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You’re Not Alone

You might assume that you’re just someone who doesn’t understand finance, but the reality is that many adults never received proper financial education, and it’s hard to instinctively know something you’ve never been taught. But knowing that others are in your situation could help.

Many adults “did not receive a semester-long class in personal finance. In fact, we learned from the school of hard knocks. We made mistakes, we fixed them, we made more mistakes, we fixed those and so on,” Beckham said. “When you have had real-life experience, there’s a part of you that feels like you should know it all already and you feel a bit ashamed to admit you actually need some help.”

However, you’re not alone in feeling this way, and knowing that others are in your position might help you overcome the barrier of putting yourself out there to learn.

“Learning about finance on your own can take a little more initiative and motivation. But if you stay curious and don’t blame yourself for the things you don’t know, you can find many free resources from your local bank, area nonprofits, and national organizations like NGPF and the Consumer Financial Protection Bureau,” Beckham said.

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There Are Many Different Ways To Learn

Not only can you often find free or low-cost financial education resources, but you can find them in a variety of formats that suit your learning style.

For example, Alejandra Rojas, founder of The Money Mindset Hub , noted that you can find introductory courses on LinkedIn Learning, Udemy and Coursera as a free or affordable way to get a handle on the basics.

If books are more your speed — and that’s Rojas’ most recommended approach — there are so many great options that help you learn the foundations of personal finance. Some of her top picks include:

• “The Psychology of Money” by Morgan Housel, to understand the emotions behind your financial decisions
• “Get Good with Money” by Tiffany Aliche, to learn a practical plan for managing your money
• “The Barefoot Investor” by Scott Pape, to learn a step-by-step approach to investing

Another option is podcasts, which can be very accessible, Rojas said.

Not only are many podcasts free, but it can be easy to multitask, like listening while doing dishes, so you can learn about personal finance even with a busy schedule.

Some of Rojas’ top podcast picks include:

• “Everyone’s Talkin’ Money” hosted by Shanna Game
• “The Clever Girls Know Podcast” hosted by Bola Sokunbi
• “So Money” hosted by Farnoosh Torabi

You Can Learn Alongside Your Kids

Lastly, if you’re a parent — or if you have other kids in your life like nieces or nephews — you might be able to learn alongside them, especially as personal finance education becomes more common in schools.

“Parents learning along with their children is the best way to learn. First of all, it gets the conversation going and that is huge. American families are a bit ‘hush-hush’ when it comes to talking about money but that’s not helping anyone,” Beckham said.

“Kids want to learn and talk about money. It’s also good for them to know that their parents are human and make mistakes. Talking about money takes away the stigma that it’s somehow rude or inappropriate and jump-starts the learning process,” she added.

This article originally appeared on GOBankingRates.com : Kids Are Now Learning Personal Finance in School — 3 Reasons It’s Not Too Late for You