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. *…

Bank Accounts for Kids

ByKori
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Well folks, here it is- the final part of how to raise a money savvy kid. I truly hope that you’ve enjoyed this series and that it has been of some use to you. Next week, I will be starting a new series about how to teach your (hopefully) now money savvy kid how to save money. This is such an important thing to learn at any age, I think. But when you can start young, even better. This last part of raising a money savvy kid ties nicely into the new series as it’s all about bank accounts for kids.   Bank accounts are part of managing your money. While you probably don’t want to go out and get a checking account for your…

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…

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…