Search Results for: blog teaching kids about saving

Teaching Money to Kids

At a Glance: Product:  Family Mint Money Management Certification Program Ages:  10 and up.  You can begin as early as 6 year old if you use the website as well. Use:  A family tool to teach children to how to handle money properly to ensure a secure financial future. Duration:  2 months Homeschool Method:  Any.  The program includes online resources and a workbook.  If you prefer the workbook only it is all inclusive and no internet needed. Cost:  $29.99 as a special introductory offer for the 60 page workbook plus a lifetime subscription to FamilyMint Premium and online only for $24.99 a year … Continue reading →

Help Kids to Save with a Fun Fund

As adults, we often think of saving as something necessary and the responsible thing to do. We save up for things such as a new furnace or braces for one of the kids. Once in a while we will also save for something fun, such as a family vacation, but we often go about it with our usual boring adult selves–we plan, we save, we move money to a vacation account. These techniques, the ones we have learned over the years and now practice, however, don’t usually work with kids. For them, saving has to be visual and fun. Help … Continue reading →

Free Websites that Teach Your Kids about Money

Teaching kids about money, where it comes from, how to make it grow and how to use it responsibly is one of those things that many of us mean to get around to doing, but don’t often seem to complete. In fact, money lessons should never really come to an end. As society, the economy and technology changes, it is important for us all to keep up, and pass on the skills, knowledge and advice to our children. Fortunately, we don’t have to do this alone. There are a few really good websites out there that will help us teach … Continue reading →

The Difference Between Saving and Investing: An Important Distinction for Kids to Learn

You can save or you can invest. It is a distinction that many adults struggle with as a concept. How then can kids understand the difference, and why is it so important? Most kids who are introduced to the concepts of money tend to be conservative. They like to hoard as much of their money as they can and save up for things. That is a great phase that can be utilized by parents, caregivers and teachers to teach the value and the responsibility of money. Unfortunately, most kids do not get any instruction past those initial lessons. Many experts … Continue reading →

8 Things Kids Need to Know about Money

It is never too early to start teaching your children about money. While many parents shy away from discussing financial issues with their kids, this can be one of the biggest mistakes that they make. Instilling good habits and a basic understanding about how finances work can give your child an edge that will stay with him or her for a lifetime. 1. There is a difference between the things that you want and the things that you need. Wants versus needs can be a tough concept for kids to understand, but teaching them that real necessities must be met … Continue reading →

What Your Habits Teach Your Kids

I’m filling in for Sara for a few days and I have to say, I’m a little nervous. What do I know about money that I can share with you? Since most of my life is consumed with raising my daughter to be a good person, and that includes someone who is fiscally responsible, I’ll start with what we are teaching our kids about money, and what we should be teaching them. Are your bills in a pile on the counter? A pile that keeps getting bigger and bigger while you ignore it? Are your credit cards maxed out? Do … Continue reading →

Teaching Kids about Money

Do you give your child an allowance? Do they know how to save? Do they know how to earn? Money is one of those necessary evils of life so it is important that you teach your child the basics while they are young. Most kids get a little money here and there, whether it is from a weekly allowance or money from the tooth fairy, but do they know what to do with it? What do they really need to know about money and how do you teach it when you hardly have any money yourself? Here are a few … Continue reading →

Fun Financial Education for Kids

Allowance is a hot topic in my daughter’s second grade class. Last week, her school hosted a gigantic book fair and kids were given the opportunity to shop during recess. Of course, that meant administrators had to modify their “no money on school property” rule. For the fair’s three-day run, students were allowed to bring up to $40 in cash and keep it in their backpacks until it was time to shop. Naturally, my daughter begged to bring 40 bucks to school. “Do you have 40 dollars?” I asked. “No, but you can give me it,” she responded without hesitation. … Continue reading →

Teaching Kids About Saving

As a single parent we all know money is tight. There are so many ways to save money, but isn’t it so much easier if it is already a habit? By teaching our children the importance of saving we are giving them the tools they will need as they get older and having to deal with finances on their own. When we were young we never had an allowance. I remember feeling so jealous of all my other friend’s parents handing them money every week. If we wanted to earn money we had to work for it. We had regular … Continue reading →

When to Start Teaching Kids

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My toddler is three. I haven’t started giving her any lessons in money yet. I know the time is coming and she needs to learn. Her only real lesson with money so far has been that swallowing a quarter is a very bad idea. The other lesson she’s been getting with money is that if a card arrives from Grandma, there will be a dollar inside. She loves to open her savings box and count her dollars. When is the right age to start teaching children about money? Jessie can understand the fifty cents that the ride toy requires outside … Continue reading →