Teach kids about money
Growing up as a kid is fun. You learn so many new things about the world and so many new things about the environment around.
Growing up is a very exciting time. As parents you try to teach your kids everything they need to know so that they can grow up with all the advantages they need in life.
However it seems that finances aren’t something that parents teach to their kids as strongly as other lessons. Finances and money are usually something that is always handled by parents but in this new tech age your kids have cell phones and prepaid credit cards and have a viable need for money so why not start teaching them young so they don’t have to go through some of the same pitfalls as we did.
Here are some tips for teaching your children about how to use and manage money.
- First and foremost as parents you need to take charge. Don’t allow your kids to find out about managing money on their own because their source of information may not be credible. For example your child’s friend jimmy that lives across the street and thinks he knows everything. Lol…
- Take small steps to teaching them about things like credit cards and loans and how they work. Also keep it simple so you don’t run them off more confused than they were before.
- Make sure that when you teach money concepts that you do it according to your child’s age. For example preschoolers would be taught the concept of saving with a piggy bank and rewarded with a quarter for cleaning up and organizing their toys.
- Teach your kids the responsibility of earning money on their own. For example the lemonade stand, cutting grass and raking leaves as a seasonal business and doing odd jobs for pay.
- Allow your kids to manage their own money as well after you have taught them about a bank account and a savings account.
With these simple lessons your kids can grow up to be the next business savvy generation armed with the knowledge to make as much money as they choose.
For more TIPS and ways to find out how you can get Financial information for your family right away leave a comment and we will be happy to help you.
Happy Friday!!
See you next week
