Teach Your Own Children to Save

5330849194_c3a4ef78b6_zWhenever you teach a child something, you also learn a lot about the subject yourself.

So, one way to learn more about money and saving is to help your own children learn about money.

The younger your children are, the easier it will be for them to accept what you are teaching them. You can start teaching your children about money as young as age 4, and you should definitely be teaching them by age 12. By age 13, many children have already developed their own (usually poor) money habits that will be difficult to change.

The typical approach to teaching children about money is to dole out a small sum each week. However, this practice actually just teaches children how to spend, not how to save or make responsible financial choices.

Instead, consider giving your children more money less often, and let them make their own decisions about whether to spend this money or save it.

This is the beginning of an article I’ve posted on childcareinfo.com. In the rest of the article I give links to financial literacy programs and online resources that can help you teach your own children about money.

Childcareinfo.com is a community for family child care providers and parents that offers a wide variety of resources including recipes, a blog, and a newsletter.  It serves as a clearinghouse for many online resources (children’s activities, training opportunities, equipment, and more).

Childcareinfo.com was created by Minute Menu to offer free assistance that will help the family child care community grow.

Tom Copeland – www.tomcopelandblog.com

Image credit: https://www.flickr.com/photos/vastateparksstaff/

Categories: Money Management, Money Management & Retirement

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