Kids Don’t Learn These 5 Things in School: Here’s What Every Parent Needs to Know

School teaches you a lot of things: how to do long division, analyze classic American novels, and be a team player. What it doesn't teach you are basic life skills that everyone should know after the age of 18. Things like taxes, credit scores, loans, and even time management are often skipped in favor of multiplication charts.

While these things should be part of a high school curriculum, they can also be taught at home. Here's what your child should know about all the things they'll face after graduation.

How to Do Taxes (and Where That Money Goes)

Taxes are part of every adult's life and, consequently, the bane of most people's existence. Come April 15th, Tax Day is on everyone's calendar, along with the anticipation of paying or receiving money from the government. The extent of most people's tax knowledge typically includes understanding tax forms and determining their tax bracket.

According to Next Gen Personal Finance, roughly 46% of Americans e-filed their own tax returns. This means a significant portion of Americans pay to have their taxes done, which raises the question: Why isn't tax filing taught in schools?

The answer is more complicated than you might think. In 2024, CNBC reported that only 25 states offer a personal finance course in high school. In 2025, that number increased to at least 35 schools. Even so, taxes are not a universal experience for everyone.

Many individuals receive a W-2 or 1099 from their employer, but for those who are self-employed, their earnings must be claimed independently. This changes tax filing drastically for entrepreneurs, who also claim deductions for their business activities.

Do Mock Taxes With Your Teen

Taxes don't need to be boring! Spending some time working with your teen, at least teaching the basics, gives them a crucial skill. This way, they won't be caught off guard when it comes time to file taxes for the first time. They don't need to be a tax whiz to understand the process, and Intuit has plenty of free resources that you can use.

Educators also use these, and to make the process even easier, they've provided step-by-step videos on tax basics. They say the best way to learn is through real-life experiences, so going through your own taxes with your child can also be helpful.

How to Budget Your Finances

Budgeting is a critical skill essential for running a household, whether it's a household of one or a larger family. In contrast to taxes, this is actually something your child can learn pretty early on. This skill serves as a safeguard during times when money is tight, but it can also be rewarding when done correctly.

Budgeting blog 42 Courses recommends saving roughly 15% of your income before paying bills. This can be adjusted according to a person's total salary, taking into account any extra bills or loan payments. Since your child won't have any of those, budgeting becomes much easier, with plenty of flexibility in how much they save (or don't).

Use Chores As a “Job” Salary

Chores can easily become paid work, and for many families, they already come with an allowance. Rather than spending all that money at once, teach your child how to put some aside for a rainy day. This could be saved in a jar for future goals, such as a vacation, a special outing, or a toy they're saving up for. It's a small start, but it demonstrates the importance of having a separate savings account.

If you want to take it a step further, help them keep track of the money they're saving with a finance journal or budget tracking planner. They'll be surprised to see how much they've saved after only a few months!

If you want to start early, consider trying a budgeting app that's easy to use. This serves as a visual aid, allowing them to see the money they're spending versus what they're saving. Primeway Federal Credit Union also recommends incorporating budgeting games for kids ages three to five.

This can be anything from playing a grocery store scenario with fake coins to using real money and item prices to determine goals and how much to spend. Alternatively, if you have teens in need of budgeting help, opening a savings account for them is a great option.

How Loans Work, and Why Good Credit Is Important

Inevitably, your child will require a loan at some point. Whether it's a car loan, a home loan, or a business loan, it's essential to understand how they work. This is one skill where misinformation or a lack of education can result in more stress, so it's crucial to teach your kids how they work. Luckily, this is relatively easy to do, even at a young age. By the time they graduate, they should be familiar with these things:

• How a loan works
• What debt means
• How to use a credit card
• Credit score points
• Loan payments and overpaying

They Can Learn About Credit By Having It

The best way to learn about using credit is by having it. A junior debit card, such as the one from Acorns Early, allows parents complete control over their child's allowance and earning potential. You can set up automatic payments for tasks like cleaning the house, doing laundry, or other chores, which are charged directly to your card.

You can also set limits for how much your child can spend, with the option to turn off the card at any point. Additionally, a card like this comes with an app, so your kids can monitor their spending (and saving) activity in real time. You can also set up features like interest, so they'll get a taste of what it's like to repay a loan.

How to Find a Job (and Move Up the Ladder)

Job hunting isn't just a necessity; it's a skill. This isn't something that's often taught in schools, but it can easily be incorporated into home teaching. Landing a job successfully requires effort, from building a resume to the interview process. There are numerous ways to teach these concepts to your child, and an abundance of resources that make it easier.

Start By Making Their Job Personal

We all learn better when we can relate to the topic at hand. When it comes to job hunting, utilizing the skills your child already has, along with their interests, is a good place to start. If they're interested in the outdoors, building a resume detailing their camping or wilderness skills is helpful. If they have a knack for math, detailing any clubs or mathletes organizations is a good resume point. You can find free resume templates through Google Drive, which can serve as a mock resume for teens. If you're giving them an allowance, make this one of their optional (paid) chores!

When it comes to choosing a career, ASVAB Career Exploration has a multitude of tools. The Find Your Interest (FYI) quiz is ideal for preteens and teens who are curious about which career field best suits their skill set. Additionally, the ASVAB Career Exploration Program helps identify jobs that match the results determined by the quiz. This is a great way to introduce job searches without the pressure of landing a job.

For older teens, volunteer work is another excellent way to experience the job field. There's less pressure than a paid job, but it provides valuable life skills that can be added to a resume. A summer job is another excellent option, and resources like Facebook groups or word of mouth can help advertise babysitting or yard work services.

How to Negotiate and Communicate Effectively

Conflict resolution is not typically taught in schools, but it remains a crucial life skill nonetheless. This all begins with identifying emotions and determining the best next step to achieve a successful outcome. Learning how to compromise is the first step in developing the skill of negotiation, a valuable life skill in its own right. Regardless of what your child does in life, being able to communicate effectively will take them a long way.

Role-Playing Real-Life Scenarios

The situations kids face from elementary school onward are likely issues that will also arise in their adult lives. For example, if they have a friend who doesn't want to share a toy, this can equate to a coworker who refuses to be a team player. The first step in role-playing this scenario is to identify the emotions your child feels: are they angry? Frustrated? Sad? From this point, they can take steps to mitigate conflict and seek a solution.

Perhaps sharing their emotion with a friend is the first step, and then reserving space to hear how their friend feels. From there, have your child work toward a solution that benefits everyone. Maybe their friend is afraid the toy will break, in which case they can find something less valuable to share. Or, maybe their friend's toy is brand new, and your child can bring something equally special to the table as a compromise.

This elevates your child's critical thinking skills and opens their mind up to multiple possibilities. Learning how to think outside the box and offer solutions puts them a step ahead. If they know how to navigate situations like these as children, their skills will carry over into adulthood.

Communication is key in any adult's life, whether it involves a relationship, friendship, or a professional scenario. Teaching them at a young age familiarizes them with this type of positive language and prepares them for life after school.

The image featured at the top of this post is ©Yuganov Konstantin/Shutterstock.com