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Yahoo
15-05-2025
- Business
- Yahoo
One Personal Finance Class Can Add $100K To Your Wallet — Here's How
When it comes to personal finances, the benefits of education can lead to considerable economic success later in life. According to a 2024 'Investing in Tomorrow' study by Tyton Partners and Next Gen Personal Finance, taking a one-semester high school course in personal finance can result in a lifetime benefit of approximately $100,000. For You: Discover More: 'Personal finance literacy is the cornerstone of a resilient and empowered society,' said Tim Ranzetta, Co-Founder of Next Gen. 'When students take a course in personal finance, it not only sets them up for their financial future but results in so many positive behavioral outcomes as well.' Financial literacy legislation is trending among U.S. states. As CNBC reported last year, dozens of states have authorized mandatory completion of a personal finance course before graduating high school, and 'there are another 43 personal finance education bills pending in 17 states.' Learning how to prevent revolving credit card balances and using higher credit scores to obtain favorable borrowing rates for important costs like home mortgages, auto loans and insurance account for the value being placed on this early financial education movement. Whether it's creating a responsible budget or recognizing what investment opportunities are right for you, early learning is essential to grow a knowledge base that you'll use throughout your life. But what about the many Americans who never had the opportunity to study personal finance in high school and have never sought out an adult education program on the subject? Don't feel embarrassed about not completing a degree or being less than aware of your personal finances. Many people didn't learn about personal finances in high school. However, it's never too late to further your education and use it to better your earnings throughout your life. Missed chances are only missed if you avoid taking steps to learn. Don't discount checking in with your local financial institution sites for free, informative resources. But if you want to take a deeper dive, online learning platforms have a seemingly unlimited amount of free education classes to explore. Here are four CNBC Select-recommended courses that will get your personal finance knowledge up to snuff. Udemy offers thousands of course on its platform for next to nothing or free. It's general Personal Finance 101 tutorial is free (unless you want a certificate of completion and instructor access) and offers, 'Everything you need to know about personal finance in the U.S, presented through concise, engaging, animated videos,' per the site. CNBC suggests taking Alison's 'Introduction to Managing Your Personal Finance Debts' course, but the 'Introduction to Life Insurance and Retirement Savings' class might be a smarter use of your time as an adult. This Continuing Professional Development (CPD) accredited course is free and takes around 1.5-3 hours to complete online. In it, you'll learn the basics and importance of protecting your family with life insurance and planning for your retirement planning. Along the way, you'll learn about different term and whole life insurance policies and traditional and Roth IRAs and 401(k) retirement savings plans. Although Skillshare is a subscription-funded learning platform, a free trial will give you access to thousands of course choices. CNBC Select recommended 'My Financial Mountain: Understanding Your Path to a Solid Financial Foundation,' but it doesn't seem to be offered anymore. However, there are many similar comprehensive courses to check out, like 'Master Your Money — Personal Finance, Investing, and Productivity for Beginners.' Last, but not least, Coursera's 'Create a Budget with Google Sheets' guided project will take learners on a detailed budget-creation mission, using Google Sheets to build a basic, but fully-functional and formatted, personal or profession budget. Coursera has tons of financial tutorials available on subjects like personal finance fundamentals, understanding markets and investment management. More From GOBankingRates Surprising Items People Are Stocking Up On Before Tariff Pains Hit: Is It Smart? 7 Tax Loopholes the Rich Use To Pay Less and Build More Wealth 5 Little-Known Ways to Make Summer Travel More Affordable 9 Downsizing Tips for the Middle Class To Save on Monthly Expenses Sources: Tyton & Next Gen study, 'Tyton Partners' 'Investing in Tomorrow' Research Reveals a $100,000 Per Student Impact of High School Financial Education' CNBC, 'Taking one personal finance class in high school has a lifetime benefit of roughly $100,000' CNBC Select, 'These four free personal finance courses can set you up for financial success in three hours or less' Udemy, 'Free Personal Finance Tutorial – Personal Finance 101: Everything You Need to Know' Alison, 'Life Insurance and Retirement Saving' Skillshare, 'Master Your Money– Personal Finance, Investing, and Productivity for Beginners' Coursera, 'Create a Budget with Google Sheets' This article originally appeared on One Personal Finance Class Can Add $100K To Your Wallet — Here's How
Yahoo
01-05-2025
- Business
- Yahoo
This One High School Class Could Be Worth $100,000 Over A Lifetime
It's not often you hear about a single high school class making a six-figure difference in someone's life. But according to new research, one course — personal finance — could be worth roughly $100,000 to students over their lifetime. And it's not just theory. Real data shows that learning about money early on can lead to better financial decisions, stronger credit scores, and even more wealth down the road. Don't Miss: 'Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. Can you guess how many retire with a $5,000,000 nest egg? . A 2024 report from consulting firm Tyton Partners, in collaboration with nonprofit Next Gen Personal Finance, found that taking a one-semester personal finance class can lead to a lifetime benefit of about $100,000 per student. The calculation factors in things like avoiding costly debt, securing better loan rates, and smart investing habits. And with more young people jumping into investing — even during rocky markets — this kind of education is becoming even more valuable. "We say it's $100,000 but as we start to see more and more young people investing, that number is only going to increase," Tim Ranzetta, co-founder and CEO of Next Gen Personal Finance, told CNBC. Trending: BlackRock is calling 2025 the year of alternative assets. It turns out that a little bit of financial knowledge goes a long way. The Tyton Partners report shows that students who take personal finance courses are: More likely to avoid carrying credit card debt Better equipped to get lower-cost loans and grants for college Able to build stronger credit scores early in adulthood The Financial Industry Regulation Authority reports that 66% of Americans are financially illiterate. Young adults with a background in personal finance education tend to have better credit scores and lower debt delinquency rates. It's not just about avoiding mistakes, either. "Teaching students about the financial markets is the greatest asset for building wealth," Yanely Espinal, director of educational outreach at Next Gen, told good news? More states are catching on. As of early 2025, 27 states now require high school students to take a personal finance course before graduating, according to CNBC. Kentucky recently became the newest to join the list. On top of that, Next Gen's Bill Tracker shows that there are currently 44 financial education bills pending in 17 states that could expand access even further. Still, learning gaps remain. A report by Junior Achievement and MissionSquare Foundation found that about 42% of teens are "terrified" they won't have enough money in the future — and shockingly, 80% have never heard of a FICO score. Plus, 43% of teens believe that an 18% interest rate on debt is manageable and can be paid off over time. "It's kind of hard to get ahead in life if that's how you manage your finances when you get out in the adult world," Ed Grocholski, chief marketing officer of Junior Achievement USA, told CNBC. While legislation helps, experts stress that simply requiring a class isn't enough. Schools need well-trained teachers and strong, practical curriculums to really make an impact. John Pelletier, director of the financial literacy center at Champlain College, told CNBC that it would take about 23,000 trained educators to properly teach the 9.2 million public high school students currently enrolled in states with financial education mandates. In the end, investing in financial literacy isn't just about helping individual students — it could shape the entire economy for the better. Read Next:Inspired by Uber and Airbnb – Deloitte's fastest-growing software company is transforming 7 billion smartphones into income-generating assets – Image: Shutterstock UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? APPLE (AAPL): Free Stock Analysis Report TESLA (TSLA): Free Stock Analysis Report This article This One High School Class Could Be Worth $100,000 Over A Lifetime originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved.
Yahoo
21-04-2025
- Business
- Yahoo
A single high school class can boost a teen's lifetime wealth by $100K, but most kids aren't taking it
While plenty of studies show the link between financial knowledge and financial success, a recent report puts a price tag on it: $100,000. A study from consulting firm Tyton Partners and nonprofit Next Gen Personal Finance found that taking just one personal finance class in high school leads to an average lifetime benefit of about $100,000 per student. And that number may be conservative, according to CNBC. I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 5 of the easiest ways you can catch up (and fast) Nervous about the stock market in 2025? Find out how you can access this $1B private real estate fund (with as little as $10) Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how 'We say it's $100,000 but as we start to see more and more young people investing, that number is only going to increase,' said Tim Ranzetta, co-founder and CEO of Next Gen Personal Finance, a nonprofit that provides middle and high school students with financial education. Much of the value comes from making smarter money decisions — like avoiding high-interest credit card debt, qualifying for lower-cost loans and improving credit scores. But investing may be the most powerful lesson of all. Learning how to navigate the financial markets can pay off for decades. 'Teaching students about the financial markets is the greatest asset for building wealth,' said Yanely Espinal, director of educational outreach at Next Gen, in an interview with CNBC. Without that knowledge, young people are more likely to panic during market downturns or avoid investing altogether, missing out on long-term growth. While more teens are learning about personal finance in high school, another report discovered there are still major gaps in education. A recent report from Junior Achievement and MissionSquare Retirement Foundation found that roughly 70% of teens think saving for retirement is something they can think about later. At the same time, 80% of teens have never heard of a FICO score or don't understand what it means. When teens do have money, only 36% save a portion for their future, while just 23% save for their college education and 13% invest, the report found. In short, millions of teens are entering adulthood with real financial fears — but without the tools to navigate them. But some states are trying to close the gap. As of March 2025, 27 states require high school students to take a personal finance course before graduating, and another 17 states are considering similar bills, according to Next Gen's bill tracker. But implementation is a challenge. Outside the states that require a course, fewer than 1-in-10 students receive financial education, reports CNBC. And even in states with mandates, many schools struggle to find trained teachers. 'The issue isn't that we don't have teachers,' said John Pelletier of Champlain College. 'What we don't have is highly trained teachers because it is an orphan curriculum.' Pelletier estimates the U.S. would need at least 23,000 trained educators to teach all 9.2 million public high school students in required-course states. Read more: The US stock market's 'fear gauge' has exploded — but this 1 'shockproof' asset is up 14% and helping American retirees stay calm. Here's how to own it ASAP Even if your school doesn't offer a course — or if you graduated from high school a long time ago — it's never too late to learn the basics about money management and investing. Here's where to start: The simplest step is to track your income and expenses — how much do you make and how much do you spend? Paying attention to where your money goes is the first step, and you can use a budget tool like You Need a Budget or a small notebook to keep a money diary and track every cent you spend. Start saving as much as you're able each month, with the goal of saving up six months of expenses. Put it in a high-yield savings account, where you'll earn a higher interest rate. Even if it takes years to save up enough, this is the first step to building financial health. When emergencies arise, you'll have savings to fall back on instead of relying on loans or credit cards that can create a spiral of debt. Books are a simple, affordable way to start your education. Visit the library and pick up books like The Millionaire Next Door, The Simple Path to Wealth, and Die with Zero. These books offer a well-rounded explanation of how markets work and how to start building long-term wealth. If you're working, look into Roth IRAs. These tax-advantaged savings accounts can help you start saving for retirement — and the earlier you start, the more time it'll have to grow. Experts recommend saving 10 to 15% of your income in a retirement account in your 20s, but max it out if you're able. Also, do some research on index funds, as they tend to be less risky than buying separate stocks. There are plenty of social media influencers who claim to teach financial literacy, but many of them promote risky strategies like crypto or day trading. Free sites like Next Gen Personal Finance, NerdWallet and the Consumer Financial Protection Bureau offer accessible tools and courses. And, parents — start teaching your kids about finance early. By age six, most kids can understand simple finance concepts like buying wants rather than needs and sticking to a budget. Closing the financial literacy gap starts at home. Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan 'works every single time' to kill debt, get rich in America — and that 'anyone' can do it Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Here are 5 'must have' items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you? This article provides information only and should not be construed as advice. It is provided without warranty of any kind. Sign in to access your portfolio
