May: National Teen Self-Esteem Month
May is National Teen Self-Esteem Month. This is an excellent opportunity to spread the word about the significance of making sure our teens have self-confidence.
This month is a time to focus on the mental and emotional well-being of our youth. Studies show that teenagers with low self-esteem can experience various negative outcomes, including decreased academic performance, a higher risk of substance abuse, and a heightened risk of depression.
Self-esteem is not just about feeling good about oneself; it also includes feeling confident and prepared for the challenges of life, including financial challenges. Financial preparedness can play a significant role in boosting self-esteem and overall well-being for teenagers.
According to a report from the non-profit Next Gen Personal Finance, only 25 percent of high school students in the US have the opportunity to take a personal finance course. Additionally, a study by the National Endowment for Financial Education found eighty-eight percent said their state should require either a semester or year-long personal finance course for graduation. This lack of financial education can leave young people ill-equipped to make smart financial decisions, which can lead to financial stress and a lack of confidence in their abilities, potentially resulting in serious debt.
“National Teen Self Esteem Month is a great opportunity to raise awareness of the importance of financial preparedness for teenagers,” mentioned Scott Ente, Senior Vice President of Investments at David Lerner Associates. “By empowering young people with the knowledge and skills they need to manage their finances, we can help them feel more confident and in control of their lives. One way to promote financial preparedness for teenagers is through education,” said Scott Ente.
Parents, teachers, and community leaders can work together to provide resources and information on personal finance, including budgeting, saving, and investing. This can include workshops, online resources, and even one-on-one counseling to help young people develop the skills they need to make informed financial decisions.
Another great way to promote financial preparedness for teenagers is through mentorship. Mentors can be invaluable in helping young people build confidence and develop important life skills, including financial literacy. By pairing teenagers with mentors who have experience in finance or business, they can provide them with guidance and support as they navigate the challenges of managing their finances.
It’s important to promote positive self-esteem in teenagers, we should encourage them to set goals and celebrate their accomplishments. This can include setting financial goals, such as saving for college or future purchases and tracking their progress. By recognizing their achievements, we can help young people build confidence and self-esteem, which can lead to a more positive outlook on life and a greater sense of control over their finances.
National Teen Self-Esteem Month is an important opportunity to focus on the future of our youth. Their financial preparedness and self-esteem is the key to their success. By promoting financial education, mentorship, and positive self-esteem, we can help young people. Teens will feel more confident and empowered to make smart financial decisions if they are better informed. After all, knowledge is power.
Material contained in this article is provided for information purposes only and is not intended to be used in connection with the evaluation of any investments offered by David Lerner Associates, Inc. These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable– we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.