Teaching Kids About Money
Money Skills From Childhood to Young Adulthood
Essential Accounts For Kids By Age 16
Discuss the need to build savings for unexpected expenses. Giving kids examples of unexpected expenses from your life is great way to share your knowledge.
Give your children a monthly allowance and allow them to be responsible for more of their expenses like clothing, dining out with friends, or entertainment.
Have your children do more of the shopping for the household, such as grocery shopping.
Give them the tools that you use such as coupon clipping or loyal shopper cards, and have them help you make the list of items you need and set a budget for their shopping trip.
Share your money experiences. This allows your kids to understand that talking about money isn’t taboo. Plus they get to understand how you make decisions and choices.
Help them understand how much everything costs. Too often, kids never grasp how much it costs just for basic living expenses. Once they understand these costs, you can help them learn how to be smart shoppers both now and in the future.
Holidays and Kids: an opportunity to teach smart money habits
The holidays present a unique opportunity to teach kids valuable financial lessons in a fun and engaging way. By involving them in activities parents can help their children develop essential money management skills. These experiences not only...
Are your kids financially prepared to leave home?
When your kids move out—whether for college, trade school, or work—it’s their first time managing life on their own. To ease your worries, make sure you've discussed essential financial basics with them. Learning smart money habits early is...
Are you teaching your pre-teens about money?
April is Youth Financial Literacy Month, and if you are a parent, aunt, uncle, or grandparent, you can play a crucial role in teaching younger kids some basic money concepts that will be useful to them as they grow older. Kids grow up quickly...