KANSAS CITY, MO (MARKETWIRE via COMTEX) -- Talking to family members about the importance of financial planning and teaching kids money management can be tough, but taking small steps can make achieving a goal easy.
"National Financial Literacy Month is the perfect time to teach teens the importance of sound financial habits and introduce a new savings goal," said Dr. Brad Klontz, a financial psychologist who helps families overcome financial issues and provides advice to parents and teens through H&R Block Dollars & Sense(TM), a financial literacy program designed to give high school students real-world lessons in financial management.
According to Klontz, financial fitness is essential to a healthy, stress-free life, yet money continues to be the No.1 cause of stress in the U.S. To ease stress and get families on the path to financial fitness, Klontz recommends a few simple changes:
Klontz says it's important to make financial planning a shared family activity. Many teenagers graduate from high school and head to college or the work force without a good understanding of budgeting or managing credit cards. Currently only 21 states require personal finance education before high school graduation; that's why H&R Block Dollars & Sense has donated more than $1 million in personal finance curriculum to schools in the U.S. and Canada. And, during National Financial Literacy Month, $50,000 in college scholarships will be awarded to students that demonstrate an understanding of personal finance skills through the H&R Block Dollars & Sense National Challenge, a school-based competition.
H&R Block Inc. (NYSE: HRB) is the world's preeminent tax services provider, having prepared more than 500 million tax returns since 1955. In fiscal 2009, H&R Block had annual revenues of $4.1 billion and prepared more than 24 million tax returns worldwide, utilizing more than 100,000 highly trained tax professionals. The Company provides tax return preparation services in person, online through H&R Block Online, through its H&R Block At Home(TM) software and through other channels. The Company is also one of the leading providers of business services through RSM McGladrey.
SOURCE: H & R Block