The Federal Reserve Bank of St. Louis has some very useful educational resources for kids in Elementary, Middle and High School at: http://www.stlouisfed.org/education_resources/
Browsing through their website, I came across a good article which, at the time, should have been heeded by everyone who got caught up in the real-estate frenzy. This is good reading material for High School Students. The article could open up some additional discussions in a sense that some areas in the country are showing signs of house flipping trends once more.
Please consider: Just Sign Here: Bottom-Line Personal Finance Myths
The article goes on to dispel the following 3 Myths:
Myth #1: "All that matters is your monthly payment."
Myth #2: "Rising house prices make us all richer."
Myth #3: "It's always better to buy than to rent."
Reviewing these 3 myths with your children would be a good way to start a discussion on how to improve their financial IQ. As the table below shows, statistics indicate that US households do a rather poor job at demonstrating basic financial literacy skills. Hopefully the ongoing discussion with your kids will make an improvement for future statistics.
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