When to Teach Kids About Money

When to Teach Kids About Money

ByKori
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Welcome back to part three of our Raising Money Savvy Kids series! We’ve covered how to teach kids to be money smart, and last week we touched upon why it’s important to teach kids about money. Today we’re going to get into when to teach kids about money. Am I suggesting that you attempt to teach your toddler or newborn? Absolutely not. But that doesn’t mean that you can’t start young when it comes to teaching kids about money. When To Teach Kids About Money You might be surprised to learn that you can start teaching your child about money when they’re two years old. While your child may be older than that right now, it’s important to get started teaching them about money as…

Importance of Teaching Children About Money

Importance of Teaching Children About Money

ByKori
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Welcome back to Part Two of Raising Money Savvy Kids! Last week, in the introduction to this series, we talked about what it means to be money smart. And today, we’re going to talk about something equally important: teaching children about money. Now, chances are that most of were brought up to know the value of a dollar. Or at some point in our lives, usually by the time we were teenagers, we definitely understood money. But why is it so important to teach kids about money? There are many reasons why teaching your child about money is so important. Here are four good reasons to teach kids about money: * You want them to be less stressed about their finances when they’re adults. *…

How to Teach Your Kids to Be Money Smart

How to Teach Your Kids to Be Money Smart

ByKori
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The lessons that we learn as children will often stick with us well into adulthood. Some of these lessons we pass on to our own children and in turn, they might pass those lessons on to their children. That’s why I think it’s important to start teaching kids, at a young age, how to be money smart. So I bring to you, part one of a ten part series on raising a money savvy kid. This first part is going to focus on how to be money smart. And hopefully with this foundation, they won’t need to know how to wipe out debt! As a child, I had pretty decent money sense. I saved my allowance and gift money. I understood that we went anywhere,…

Financial Tips for Teens

ByKori
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Welcome to another addition to Raising Money Savvy Kids! By the time a child is a teenager they will have many ideas about money. Some of these ideas, hopefully, will be empowered and smart. Others, not so much. Teenagers seem naturally inclined to take risks in many areas of their life, including financially. Let’s take a look at some financial tips for teens and ideas to help your teenager manage their money more effectively, and responsibly. 1. Save money regularly, even if only a little. Saving a little money from every paycheck (or weekly allowance if you’re still doing that) at this age may not seem to add up quickly, but if you can learn to do this right from the beginning you will create…

5 Ways to Teach Kids About Money

ByKori
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Welcome back to part 4 of how to raise a money savvy kid! In part 3, we talked about real life opportunities to teach kids about money. This week, we’re going to cover 5 ways to teach kids about money and believe me, this needs to be fun. I remember when my mom tried to instill this valuable lesson on me. I had a special bank where I put my allowance and eventually, I had my own savings account. Had I been smarter I would have kept adding to that savings account, but alas, I did not. And have I ever mentioned that my mom used to work at a bank? Or that she has taught business law? Yup. I really should have paid more…

Ideal Times to Teach Kids About Money

Ideal Times to Teach Kids About Money

ByKori
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Every day life is filled with numerous teachable moments for children of all ages. A simple trip to the grocery store, for example, can become a math lesson, an alphabet review, a lesson on manners, and so many other things. This is also a great opportunity to teach kids about money and the value of money. In fact, there are many times to teach kids about money that occur in every day life. And don’t forget to check out the rest of the posts in this series: Raising Money Savvy Kids. Teaching your child about money takes more than one conversation. Using real life situation and examples will help them pull the concepts together. They’ll learn not only from your words but also through your…