Teaching children about healthy financial practices can be a challenge. Although there are good ways to give children an incentive to save money, it can be much harder to explain the value of saving.
Among the resources available to help parents with this task is “Money As You Grow,” a website created by the President’s Advisory Council on Financial Capability and launched by the White House in May 2012.
The “Money As You Grow” website helps parents to teach financial literacy to their children. Written in easy-to-understand language, it seeks to remove some of the complications and unease that often surround money issues. The website has segments for five separate children’s age ranges: 3-5 years, 6-10 years, 11-13 years, 14-18 years and 18-plus years.
Here are some of the money tips for kids and lessons that the “Money As You Grow” website offers: