Search Results for: blog teaching kids to save money

How Your Teen Can Earn Money This Summer

With the summer job market being tight this year, your teens may have to come up with some unconventional ways to earn some money this summer. Here are some ideas for them to try. Host a Camp I know a couple of teens who created a thriving business hosting a camp in conjunction with the local ice rink. Parents can drop their kids off for fun and games with the hosts when they aren’t on the ice skating. Teens can check with local gymnastics programs, pools, bowling alleys and other places where a little extra child care would be welcome. … 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 →

Kids and Money – What and When

One of the most valuable things that a parent can do is teach their children about money. If children are raised to understand how money works, they are likely to grow into financially aware adults who are able to make good financial decisions for themselves and their families. Of course, the big question is when to begin teaching them and what to teach them at each age and stage of their development. The earliest form of financial education for children happens without you even necessarily realizing that you are doing it. Children are very observant, and they see and hear … 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 →

Children And Money

When your teenager gets a job it’s a huge step for them towards being an adult. When Hailey was younger I didn’t really teach her about money management because we didn’t have any left over for her to manage. I tried to set a good example. As a single mother many times I lived hand to mouth but I let her know the importance of paying your bills first, taking care of anything that is a true need, saving some for a rainy day, and then, if there is anything left, getting something you want. When Hailey got her first … 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 →

Making Sure Your Kids Understand Debit and Credit Cards

Money is a difficult concept to understand, especially when it comes in so many different forms—checks, currency, coins. Add to that the concept of debit cards and credit cards, it really gets confusing, and kids don’t always grasp all the nuances. They see their parents swipe a card in a machine, the cashier lets them keep the stuff they chose, and it’s all pretty cool. When we use plastic instead of paper money, it can lead our children to have a disconnect between the reality that in order to spend money at the store, we need to make it and … Continue reading →

Teaching Children Financial Literacy

It is only natural for parents to want their children to have an easier time of things when they become adults than they themselves have had. No parent wants his or her child to grow up, become independent, and then struggle financially. Fortunately, parents are in a position to teach children the fundamentals of finance so that they have a better chance of having that easier time that their parents wish for them. Financial literacy is not something that was taught in school when I was a student, at least not in much depth. In a class called “Personal and … Continue reading →

Basic Financial Education for Kids

When I was growing up, money meant security. I grew up with the fear of not having enough, not because there wasn’t enough but because that was the gist of my parents’ conversations around money. I learned that you needed to get a good job, which meant one that paid well. Even though I was a fairly talented musician, this meant that a career in the arts was certainly out. When I was growing up, I also had positive experiences with money. My parents balanced their checkbook every week in full view of the kids. I got an allowance and … Continue reading →

Put the Fun in Fundraising for Kids

Each year, our school-aged children typically fundraise for something for themselves, such as a class trip or individual prizes. This year, consider teaching your children how fundraising can be about helping someone else. There are plenty of charities that would love your help and the benefits for your child are endless. Ways to Raise Money You can help enrich the life of a child with a terminal or life-altering condition by having your child’s school collect change. Each class can compete to see who raises the most money and the winning class can receive a pizza party as a thank … Continue reading →