What are your plans for teaching kids about managing their finances?


What are your plans for teaching kids about managing their finances?

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trunt68
trunt68
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Hey all,

I've noticed that financial education for teens is particularly lacking in a lot of schools, so parents are required to teach them about managing their money (please correct me if I'm wrong). 

What are your plans or what are you doing to teach your kids in this area?

Thanks for your responses.
al3c
al3c
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Financial literacy is extremely important for everyone. People, especially kids, are bombarded every day by ads persuading them to spend their money on something. The more money you have, the more people out there who want some of it. We must know how to spend their money wisely. Another great resource for consumers is Investopedia, this article on Teaching Financial Literacy to Kids in particular will help you ace your finance homework of explaining everything correctly to your kids. If you need credit counselling, they can direct you to a non-profit agency near you.

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06/03/2018 by Moderator
PeterRaker
PeterRaker
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As a parent, you should instill responsibility in your children as early as possible, especially with money. They need to understand what it is and how it is earned. This article from Forbes mentions key techniques that we should apply to teach our children. Once your children have become more accustomed to finances, they can bridge this knowledge to Economics and gain a full understanding of how the real world functions.

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04/05/2018 by Moderator
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