Financial literacy is a critical skill that lays the foundation for a stable and prosperous future. Yet, for many young people, navigating the complex world of finance can seem daunting.
Recognizing this gap, 14-year-old Caden Harris has embarked on a mission to equip children with the knowledge and tools they need to make informed financial decisions from an early age.
Harris, an author and CEO of Caden Teaches, first became interested in learning about the world of finances when he was barely in elementary school. At the age of seven, he got the idea of the financial literacy bus to teach what he was learning at home to other children in the area.
“I remember asking my father different things: what is a liability, what is a dividend, ROI? I just wanted to know more and be able to teach kids about it,” Harris, also known as “The Rich Kid,” told Michael Strahan in an interview on Good Morning America as a part of the first day of their “Celebrating Black History Month: Generation Rising” segment.
Helping to expand Caden’s vision of sharing his knowledge about finance, the family purchased and renovated a 54-passenger bus, turning it into a financial literacy lesson on wheels. The bus drives around Atlanta teaching kids about finances and money.
The financial literacy bus contains a mock bank, ATM, Stock Exchange, and grocery store “… where kids can learn the difference between their needs and their wants.”
So, just when should children begin to learn about financial literacy? Well, Caden recommends that children should begin learning about financial literacy when they are able to talk!
“I say that kids should be able to start to learn about money as they’re able to talk,” he said to asbn.com in a previous interview.
Per the 2023 TIAA Institute-GFLEC Personal Finance Index, those of African-American and Hispanic descent answered 34% and 38% respectively to a survey that measures financial knowledge. This was lower than the average, although low itself, of 48%.
To learn more about Caden Harris and his array of educational tools and products, click here.
Photo: Caden Harris Instagram/Facebook; Good Morning America
