It’s back-to-school season! At my house, you can find me busy packing lunches, shopping for supplies, and helping my 4-year-old twins get back into a routine. Although my kids are still young, this time of year has me reflecting on my own school experiences. While I’m immensely grateful for the education I received, it’s clear there were some important gaps—especially when it came to personal finance. Most of my classmates left school knowing how Pythagoreans Theorem, but not the basics of how to manage debt, save for retirement, or invest for the future.
Here are a few money lessons we should consider adding to the syllabus:
- Be Cautious About Student Debt
Pursuing higher education is valuable, but taking on large amounts of student loan debt without a clear career path can have long-term consequences. Before committing to a costly degree, it’s important to understand the return on your investment. Students should consider: Will this degree realistically lead to a career that can support repaying the debt? Explore all options, including community colleges, scholarships, technical schools or alternative training programs that may provide a better cost-to-benefit ratio. - You Can Start Saving for Retirement Early
Many people don’t realize they’re eligible to contribute to a Roth IRA as soon as they have earned income—even from part-time jobs like waiting tables. Starting young gives your money more time to grow through compound interest. Parents can even contribute to a Roth IRA on behalf of their children, as long as the child has earned income. Even small contributions in your teens or early twenties can make a big difference over time. - You Don’t Need Thousands to Start Investing
There’s a common misconception that investing is only for the wealthy. In reality, you can start with a modest amount thanks to tools like low-cost index funds and apps that allow fractional investing. What matters most is consistency. Investing even $25 or $50 a month builds the habit and puts your money to work.
At Bloom Advisors, we believe financial confidence begins with education, even if you didn’t receive it while in school. If you’re ready to take control of your financial future—no matter where you’re starting—we’re here to help guide the way.
