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Learning Financial Empowerment Helps Kids With Literacy Skills, Research Shows

Research from the University of Cambridge suggests that many of the habits we have with money start by the time we're 7 years old

NBCUniversal, Inc.

Children can become better readers in different ways. It doesn’t just have to be from a book.

“A lot of times, students want to know why this is important for us to know,” Scott Elementary kindergarten teacher Kensey Whiddon said. "They see that there are things outside of school that we have to do that require good reading skills.”

Before school let out for the summer, the students in her Frisco Independent School District classroom learned a lesson in change. That lesson deals with understanding money and its value. The lesson was twofold, according to Tim McCoy of INTOUCH credit union, based in Plano.

“It’s something that starts early. We teach them about financial literacy now so that they can understand good habits early. The better opportunity to carry it into adulthood and make good choices when it comes to their own money,” McCoy said.

Research from the University of Cambridge suggests that many of the habits we have with money start by the time we're 7 years old. There are several apps that can teach financial empowerment skills for all ages.

“This is not a concept for the wealthy. This is not a concept for a certain group of people. Money management is something that everyone needs to learn and understand,” McCoy said.

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