In the financial literacy classes being taught across Florida for the first time this year, students are learning about money management, debt, different types of bank accounts, credit scores, and how to file taxes.
It counts as a half credit toward their graduation.
Fourteen-year-old Emersyn Moore's financial literacy education started at the age of 11 when her mom downloaded an app called Busy Kid. The $4-a-month app allows kids to check off chores and other work they do to earn an allowance.
Parents receive a reminder at the end of the week to approve payment, and it goes onto their child's debit card. Financial planner Gregg Murset, a father of six, developed the app out of necessity. Users can allocate the money for spending, donating, and investing.
Moore said she’s saved $300 from chores and babysitting. She’s also been able to purchase items on her wish list, including a new gaming system.
Experts agree it's not so much where children learn money management and personal finance — it's that they understand it before they get out of school.
Sarasota high school student Porter Crockett learned personal finance fundamentals at a summer program at Riverview High School.
“A lot of kids my age don't really know the financial knowledge that you need for the world," Crockett said.
The teens who participated in the course learned everything, from handling bank accounts to the importance of credit scores.
