When kids just need a little bit of extra money or don’t qualify for loans on their own, they typically go to the Bank Of Mom And Dad somewhat by default. This shouldn’t necessarily be a habit, but if you…
For years, money gurus have asserted that, with help from parents, kids use separate spend, save and give banks with their money. Although the advice is sound, the experts who spout it rarely provide an explanation about why the technique…
Ideally, kids grow up to make good money decisions, working with funds without relying on anyone else. Getting them to this point takes work, however. These methods can lay a solid foundation for your kids’ financial independence. 1) Make…
A major goal in teaching kids to be responsible with money is getting them to control how much they spend. If they can do this, budgeting is much easier, and the risk that they’ll get into debt dramatically decreases. These…
When your child works with a piece of money, the odds are pretty good that the money already has seen its fair share of the world, with your child’s piggy bank, wallet or purse just one stop among dozens on…
Saving has a rather ironic purpose: Your kids do it so that, at some point, they can spend. This activity has some big benefits, not only for your children’s money-education, but also for their personal and social awareness. 1) To…
Although there are certainly times when you’ll want your kids to buy items brand new (shoes and underwear are perhaps two of the best examples), there are plenty of circumstances where opting for second-hand goods is super savvy. Thrift stores…
Savvy adult shoppers will comparison shop before they make a purchase decision, but this behavior doesn’t happen automatically—it’s learned. Kids have the capacity to start doing it on a basic level quite early if you show them how. These tips…
There’s no doubt about it—you and your child likely will cough up a nice chunk of change to cover the expense of back-to-school supplies. Kids can use multiple strategies to keep more money in their pockets during the process of…
Retirement can be a pretty abstract financial topic for kids to tackle, especially since it’s so far into the future. Still, they need to know what it is and start planning for it early, especially since they’re likely seeing you…