1. How to Be a Financial Role Model for Your Child

    Mother saving money with childNo matter what your financial situation, talking about money can sometimes seem uncomfortable, but it’s important to teach your children financial literacy – and to teach it to them again and again. The best way to teach is by example, so that your children can gain valuable, lifelong lessons.

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    Categories: Saving Money
  2. Teaching Money Matters to Kids with Games, Apps and Websites

    boy saving money in piggy bankHow can you teach your kids to be fiscally responsible, even at a young age? Once they’re older, how can you instill smart money-management habits? By making money matters an educational and fun challenge.

    Start when they’re young. Remember the first time you saved and saved and paid for something on your very own? What a sense of accomplishment for a child! Start your little one saving young with a piggy bank that he or she can see, touch, feel, shake, and hear sounds that change after inserting each coin. Next, consider getting a digital piggy bank that tracks savings. For example, the decimal point and numbers show the amount inside “Piggy,” teaching your child what the numbers associated with the money look like. With each “cha-ching,” your children will see how saving money adds up – a very important lesson to help teach your kids about money management.

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    Categories: Saving Money
  3. Tips for Kids for Saving Money

    Girl Putting Money in PiggybankWhen is it too early to start teaching your children about the importance of saving money and how to save? Never. The sooner your kids learn how to manage money, the better off they’ll be in the long run.

    To help ensure that your kids grow up understanding the value of a hard-earned dime or dollar, follow these money-saving tips for kids:

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    Categories: Saving Money
  4. Three Simple Guidelines For Teaching Your Kids About Money

    Clear Piggy Bank For Child's SavingsTalking to your kids about money can sometimes be difficult. Particularly if you grew up in a family where money talk was off limits. According to a 2012 study by T.Rowe Price, 77% of parents admit to not being honest when talking about money with their children and 15% admit to not telling the truth on a weekly basis.

    Telling the truth to your children about money matters can help prevent multiple problems and misunderstandings in the future. Here are three simple tips to help make talking about money with your children much easier:

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    Categories: Saving Money
  5. Teaching Kids To Manage Money

    Dad Teaching Kids the Value of MoneyHow to coach your kids to be financially independent.

    Father’s Day is a great time for dads to talk with their young children about money, particularly ways to grow toward financial independence. Think back for a moment; how much was your first allowance? Chances are it was a modest sum based mostly on your age. It’s a pretty good bet that your parents had an “expiration date” in mind for your childhood stipend. As it turns out, many dads and moms should have put that date in writing … in a contract posted on the fridge!

    According to data from the Pew Research Center, nearly one in five adults 18 to 34 years old are still getting regular financial help from parents or other family members. The tight job market, onerous student loans, and the high cost of living are all challenges fueling this trend. Even so, a good grounding in financial basics has kept many other young adults from leaving a body imprint on the parental couch.

    Here are some tips on what fathers can do to teach their kids to manage money, be self-sufficient and – hopefully – even financially savvy:

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    Categories: Saving Money