Can you imagine a scenario where your son is in his late thirties and still buried in student debt? This is a reality for many parents. By including financial education in your homeschool curriculum, you will play a critical role in providing a brighter future for your child.

When talking to homeschooling parents, most understand the importance of teaching practical money issues. Unfortunately, many parents don’t know where to start. They never received a practical financial education in school and there is a dearth of home financial education curricula on the market.

If you’re not currently homeschooling your kids, you should when it comes to the topic of financial literacy! Financial education is not taught in most public high schools, and recent surveys have shown that more than 70% of young adults view their parents as the primary source of financial education.

The school curriculum focuses almost exclusively on the subjects necessary for young adults to be accepted into college. That’s important though; equally important is the need to be financially prepared when you step foot on a college campus. By the time they hit many college campuses, credit card companies are there offering freebies for any student who signs up for a student credit card.

To prepare your homeschooled child for the real financial world when they go to college, here are some simple steps to help you feel confident that they can handle the lure of easy credit and succeed financially.

1. Relate money to lifestyle. Most young people are not motivated by having a large bank account. It is what gives them money that encourages them to learn money management skills. It’s the experiences they want to have, the places they want to travel, the people they want to help and get the toys they dream of.

Find out what your child wants, what he dreams of and relate it to money. It’s a great homeschooling exercise that allows you to connect with your child on a deeper level while teaching them a valuable skill.

2. Develop a savings plan. Give your teen a head start by developing a savings plan. As part of your homeschool curriculum, ask them to manage their own finances and create a work budget. If your child still lives at home, require that he save at least 40 percent of the money he earns or is given to you for long-term savings. This will not only help them start building a savings nest, but it will also help them develop a good savings habit.

An essential element to include in your homeschool budget curriculum is to help them understand the difference between a ‘need’ and a ‘want’. Wanting a $5 cup of coffee every day adds up to more than $1,800 per year. These essential homeschooling lessons will help counteract the years of ‘buy buy buy’ ads they are exposed to.

3.Open Accounts. To engage your child in a real-world homeschooling activity that will prepare them for the future, have them open their checking and savings accounts. Your child will need them anyway, so why not start early? The more you will find that the longer the relationship they establish with a bank, the more benefits they will receive.

Your student checking account is the center of your finances. It is suggested that they open two student savings accounts. One for long-term savings and another student savings account for fun things they want to experience. The Long-Term Student Savings Account will give them financial security, while the Fun Student Savings Account will allow them to fully experience life now.

4. Invest early and consistently. When you homeschool your child, one of the most important math lessons you can teach is the power of “compound interest.” This allows your child to earn money on the initial investment plus all the money the investment has already paid back.

In the homeschool math curriculum, show them how quickly a small investment can add up. Just an $80 investment each month could mean over a million dollars in their account by the time they’re fifty. Homeschooling your child with these practical financial lessons will give them an advantage most people won’t have.

Financial education should be a central part of your teen’s homeschool curriculum. With a practical financial education, they will avoid common financial mistakes, be able to enjoy life more, and be well on their way to securing their financial future.