Teaching Your Child to Budget

Teaching Your Child to Budget

ByKori
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Welcome back to how to raise a money savvy kid! This week, we’re going to talk about teaching your child to budget. Now, if you’ve been here before then you know that I’m a huge fan of making a budget. I think it’s incredibly important. Whether it’s creating a family budget or creating a get out of debt budget, budgeting really helps me to keep my spending in check. Especially with us being a one income family (for now), sometimes we really do have to get creative when it comes to stretching that weekly paycheck. So is it possible to teach kids how to budget? Of course it is! And by learning this life skill now, you’re setting them up for financial success in the…

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. *…

5 Tips for Teaching Your Kids to Save Money

5 Tips for Teaching Your Kids to Save Money

ByKori
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Saving money is an acquired skill. For some of us it may just come naturally and for some of us, it needs to become a mindful habit. If you’ve been here before, then you know that I advocate for teaching kids how to be money savvy. This is an important life skill (how to manage their money), that is often overlooked. But why touch on this more? Why the need for sharing five tips for teaching your kids to save money? For that matter, why bother repeating some of the previous tips found on this blog? Because one of the easiest ways to learn is through repetition. That and if this is your first time here, this is your first time seeing a post about…

Teaching Kids About Money and Values

ByKori
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So, last week when I posted part nine of raising money savvy kids, I realized that it was out of order after I posted. My mistake! It’s still a valuable post so I left it as is. This week, part eight, is going to cover teaching kids about money and values. Next week will be the final part of the series and then we’ll move on to teaching kids how to save money. I think I have that all straight so let’s get to this next installment of how to raise a money savvy kid. You have your own beliefs about money and they might just differ from my beliefs about money. These beliefs come from your parents, they come from your experience, and they…

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…