8 Easy Ways to Teach Your Kids About Money
According to a new survey, many parents don’t believe they are teaching their children about money skills in the manner required. Here are easy ways to start teaching your children about money today:
· Whatever trick you use, find a way to bring up dollars over the dinner table, or wherever else you make conversation with your kids. Many parents believe it is awkward to talk about money. When educating your kids about money, you also don’t have to do all the hard work yourself, because other people have done it for you. Mymoney.gov, AmericaSaves.org, ING Direct’sPlanet Orange and SchwabMoneyWise.com are just a few of the websites designed to help parents educate themselves, and their children, about the ins and out of money.
· Another tip for parents is to pick one financial tip each week, such as setting up a budget, and talking about it as a family. It is also a good idea to show kids what is possible with money and what you can do with it. For example, teach kids to budget by having a piggy bank with four compartments – save, spend, donate and invest. This teaches kids to pause and reflect before spending money – the first step in learning to delay gratification instead of buying the first thing they see.
To read more ways in which you can teach your children about money, visit U.S. News.