I see the teen years as the prime time for several reasons. First, although some teens wean themselves from their parents’ finances faster than others, most have some money of their own, whether that’s from a part-time job, allowance, or gifts. And there’s nothing like having skin in the game to make their education more meaningful.

Second, by the time a child is in high school, they likely have the math skills to calculate and appreciate not only the positive power of compound growth but also the negative impact of paying fees and interest on credit card debt. Many teens will be able to grasp the tradeoff between risk and reward and apply that concept to building an investment portfolio. Others are born entrepreneurs and will be ready to start applying their skills to building a business.

The third reason isn’t skill-based, but more a reflection of their developmental stage. Teenagers are observers. And they’re vulnerable. Many are wired to experiment, push boundaries, and test limits. Others are super cautious and need to be encouraged to flex their risk muscles. Either way, they all have to learn how to deal with new situations and uncertainty in a productive way. Learning about money—from budgeting to saving to borrowing to investing—is all a part of the process of developing the skills they need to become an independent adult.

We’re making strides, but need to do more

I’m excited that 23 states now require students to take a course in personal finance to graduate high school but that leaves too many that still don’t. And we need to do more to provide training and resources for more teachers.

This is especially true for teens who live in under-resourced communities. Schools in wealthy communities are much more likely to teach financial literacy. That’s just a fact. But kids from low- and moderate-income families need a solid financial education just as much, if not more. All kids deserve access to high-quality financial education to build a future of financial security and opportunity.