Fundamental Money Concepts to Teach Your Kids

January 8, 2013 by 1 Comment

Being a parent (in part) is about instilling education, tools and values into your children that can help them to become thriving adults, right? Well, one of the things that will help that to happen is by making sure that they are smart about money.

As a matter of fact, if you are someone who has had some “hard knocks money experiences” in your adult life, you might want to think back to your own childhood. Oftentimes, when it comes to both the good and the not-so-good, we tend to do what was modeled to us and that’s not always what would have been best.

So, in order to help you raise your child to be a financially responsible individual, we have enclosed five fundamental money concepts that you should teach your children just as soon as they can say “dollar bill”:

Money doesn’t grow on trees. OK, technically, in a roundabout way it does (being that paper comes from trees), but we all know what the saying really means. Money is not something that anyone can just wish for and it suddenly appears in large quantities. It’s something that must be earned. For adults, that’s by having a job. For children, that usually starts by doing chores around [Read more…]

Filed Under: education Tagged With:

Teaching Children about Money

November 13, 2012 by 5 Comments

The economy and money are a hot topic this time of year. With a presidential elections just behind us and a natural disaster coming every few months. Talk of money and spending is everywhere leading to some difficult conversations. The most difficult is with your kids. How do you explain the current economy to a five year old? Go ask your teacher will not suffice at this point. But there are a few tips and tricks to having a well rounded financially sound little gal or guy.

 

The conversation should start early as a learning experience with fun and games. No big charts and numbers.You don’t want to add a level of stress to something that could possibly mold a little mind to either embrace or shun an understanding of financial topics.

Start with dollars and cents and then once the math level of your child grows so too should your teaching of money and financial matters. With addition and subtraction budgets can be introduced, not on a company or even household scale but on a smaller level [Read more…]

Filed Under: kids Tagged With: ,

Top 5 Tips for Raising Money-Smart Kids

October 24, 2012 by 6 Comments

Our economy is in rough shape; no one can dispute that fact. Inflation is affecting our budgets, prices are rising across the board, and it’s becoming more and more difficult for people to find high paying jobs. You want your kids to be prepared for this world, so start teaching them to be smart with money. Educate your kids using these 5 tips for a thrifty education.

  1. Lead by Example
    The most important thing you can do to teach your kids how to be smart savers and thrifty spenders is to be a good role model. Show your kids how to be financially responsible by setting good examples for them. Be smart with your own money and your kids will pick up on these habits. You are your kids’ first and most important teacher, and the lessons they learn from you will last many years. Kids are very impressionable, so take this time to make a [Read more…]
Filed Under: education, kids Tagged With: , , , , , ,