Train a Child In the Way He Should Go…
Parents are directed and advised to teach their children many things. Biblically, parents are directed to teach children how to swim and make certain a child is taught a trade. Schools often ask that a child is taught the basics of reading and math at home. Grandparents ask that we teach our children table manners. The list goes on. It’s not that teaching children is a burden; it’s an absolute joy to watch them learn and grow. It’s just that there is so much to teach, sometimes it is difficult to prioritize. One thing that frequently gets pushed to the side is teaching children and young adults about money. But like helping a child to discover what he wants to do in life, teaching about money is essential and is something that will affect a child’s entire life. One of the first things a parent may wish to do is to teach a child what a bank does and basic information about savings accounts. This may lead to opening an account for a child. Although having an electronic account is often the norm for adults now, this might not be the best thing for a young child. As FINRA* points out, “some banks still offer old-fashioned passbook accounts, especially for children’s savings accounts.” This can be a great teaching tool for showing a child how savings can grow and how to keep track of one’s money.
For more information and advice about teaching children about money, see the books and sites listed below.
Children – Finance, Personal
Teens – Finance, Personal
Saving and Investment
FINRA’s page about basic Bank Products: http://www.finra.org/investors/smartinvesting/choosinginvestments/bankproducts/
An internet site with a great list of teaching ideas:
Links to sites focusing on money facts and saving:
* FINRA at: http://www.finra.org/Investors/index.htm
Amazon Amazon Says:
Teaching your kids about money is critical to their success as adults. The question many parents ask it, "How?" Consider this...You hire experts to teach your kids to swim, dr more...
Teaching your kids about money is critical to their success as adults. The question many parents ask it, "How?" Consider this...You hire experts to teach your kids to swim, drive, play sports and learn musical instruments. Yet parents often leave the ONE subject kids MUST become skilled at to chance: MONEY! Only problem is that very rarely is personal finance taught in schools or at home. If you're concerned about your child's financial future, then The Ultimate Allowance is the only financial parenting tool you'll need to raise financially savvy adults. The Ultimate Allowance teaches your kids about money so they can eventually move out successfully, and it does so while saving you money in the process. This step-by-step system shows you how to take the money you're already spending ON your children and run it THROUGH them instead. This way you teach your kids the language of money while providing plenty of financial practice while they're young. When your children move out successfully, you experience one of the most powerful joys of parents that exists...knowing you raised adults who can take care of themselves. less...
Amazon Amazon Says:
A Teenager and His Money Will Soon Be Parted Unless ...Now you can do the seemingly impossible: transform your spendthrift teenagers into financially responsible young adults. more...
A Teenager and His Money Will Soon Be Parted Unless ...Now you can do the seemingly impossible: transform your spendthrift teenagers into financially responsible young adults.With Neale S. Godfrey's fresh, practical, inspiring advice, you'll discover:- How to help your teen choose his first car, the right bank, a safe credit card, a clothing budget, or a great summer job - How much your child should work during high school and college - Where, when, and how to leave a proper tip, find bargains, dress properly for an interview, and more - PLUS: fun quizzes and step-by-step worksheets for you and your teen to plan and create a stable financial future less...
Amazon Amazon Says:
This activity book identifies ten steps to improve the times tables of children aged six to seven years old. It aims to help parents to improve children's achievements at scho more...
This activity book identifies ten steps to improve the times tables of children aged six to seven years old. It aims to help parents to improve children's achievements at school, which is important for Key Stage 1 SATs. It builds on children's school learning and provides home-school links. The book also has a central pull-out and merit stickers to help make learning fun. The ten steps include: counting in twos; counting in tens and fives; adding lots of twos; adding lots of tens; adding lots of fives; doubling and halving; using the two times tables; using the ten times tables; using the five times tables; and mix and match (2 x 5 = 10). less...
Teaching Money to Kids and How Banks Work.mp4Sheila D. Says:
Teaching Money to Kids and How Banks Work