The financial experts below have tips on how to use those experiences to teach your child to spend wisely, have more money and get the most for their dollar.
View detail |
n order to help kids really learn money lessons, I think it’s important to make these lessons part of every day life. You don’t have to spend 10 minutes of each day lecturing your child about money, but there are some learning experiences you can incorporate into your daily life that can help your child develop positive money habits for the long run.
According to USA Today, a recent study involving 65,000 college students seems to indicate that high school courses on financial literacy could lead to better money behaviors in college — and perhaps beyond.
My 11-year-old son has started thinking about college. The reality, though, is that he’s 11 years old, and still thinks his parents are kind of awesome. He may decide that going to one of his parents’ alma maters isn’t the way to go. With all these factors up in the air, how do you figure out what to save for college?
“Really, it’s all about making choices that work for you,” says Dayna McKinnon, a stay-at-home mom living in Logan, Utah. She has seven children, six of them still living at home.
According to the study, about 85 percent of parents have saving for college as one of their top three goals for this year.
I bought my little girl her first ever piggy bank the other day. As she is only 3 years old I have no real intention of encouraging her to start being frugal just now. However, we went on a trip the other day and she was taken by a piggy bank with a fancy design on it.
It’s now filled with sweetie wrappers, a few foreign coins and who knows what else. However, the very fact that she now has some sort of savings mechanism made me wonder when we should start to encourage our children to save money. Here are some of the best ideas I could come up with.