Exploring the Importance of Financial Education to Families and Communities #TRPkids

Did you know that 63% of parents feel overwhelmed by financial pressures according to T. Rowe Price’s survey*? Improving your understanding of key financial concepts, especially early in life, can result in a higher standard of living over the long term and translates to more stable communities. Yet, parents are more likely to talk about sex or drugs with their kids instead of money matters.

For over 75 years, T. Rowe Price has been dedicated to helping people become educated investors. Building financial capabilities is a core pillar of the firm’s commitment to communities. T. Rowe’s approach to financial education is unique – it focuses on building financial capabilities by changing behaviors, especially in young people ages eight to 14. Together, T. Rowe Price and Scholastic are working to improve the financial education of younger and future generations.

Join Justmeans (@Justmeans) as moderator of this live discussion with T. Rowe Price’s Renee Christoff (@TRowePrice), head of corporate social responsibility, and Scholastic Parent & Child Magazine (@ParentandChild) as they  provide insight into  how parents can start talking to kids about money right away. During this live 60-minute chat, users can follow along using the hashtag #TRPkids. Topics they will discuss include:

• Allowance – Why kids who get an allowance are more money savvy than their peers who do not.
• Conversations – Why parents who have regular financial conversations creates a positive impact on raising money confident kids.
• Money Experience – Why it is important to provide kids with regular, hands-on money experiences.
• Resources – How corporations can help improve financial education and why it’s important.
• Impact – How financial education can help build more stable communities.

Our panelists will also be fielding questions from Twitter about these financial education topics. As the live chat winds down, we hope that attendees leave with a better understanding of the impact early financial education can have on families and communities and how knowledge can help build more financially capable individuals.

More Resources:

• T Rowe Price:  Building Financial Capability in Communities
• Scholastic: Money Confident Kids presented by T. Rowe Price
• Scholastic Parent and Child Magazine

Tips to Participate:

• Follow the main participants and #TRPkids hashtag
• Submit questions before the event to promote a more dynamic discussion
• Use the #TRPkids hashtag on your comments that you want to share with the community
• Share tweets you think your followers will appreciate
• Follow interesting participants during and after the chat

About our participants:

Renee Christoff (@TRowePrice) is a vice president and head of the Corporate Social Responsibility at T. Rowe Price, focusing on strategic, effective, and impactful ways for the firm and its associates to engage in the community. She oversees the corporation's volunteerism, sponsorships, environmental sustainability, financial education outreach, and civic initiatives. She serves on the Boards of Port Discovery Children's Museum, the United Way of Central MD, and the United Way Baltimore City Partnership Board; and is a trustee of the T. Rowe Price Foundation.

Scholastic Parent & Child magazine (@ParentandChild) helps parents guide their children from day care through fifth grade with joy and confidence. Through its exciting articles and unique resources, Parent & Child provides information, wisdom, and inspiration that will help parents maximize their children's happiness and success in school, and home. We focus on academics, social development, emotional well-being, physical health, and behavior to help shape well-rounded kids. We provide articles on family, travel, food, educational toys, pets, and activities that kids can learn from.

*T. Rowe Price 2015 Family Financial Trade-offs Survey