Tag Archives: teaching kids to save money

8 Things Kids Need to Know about Money

It is never too early to start teaching your children about money. While many parents shy away from discussing financial issues with their kids, this can be one of the biggest mistakes that they make. Instilling good habits and a basic understanding about how finances work can give your child an edge that will stay with him or her for a lifetime. 1. There is a difference between the things that you want and the things that you need. Wants versus needs can be a tough concept for kids to understand, but teaching them that real necessities must be met … Continue reading →

Kids and Money: Early Earners

A previous article, Teaching Kids to Save Money, described simple ways to encourage children to save more. A Families.com member posted a comment after that article, and later sent me a private message with more information about a website she co-founded, called Early Earners (thanks Ami). The site is a great teaching tool that will help parents explain the importance of saving money and how starting early will prepare them for the future. It also shows how Americans are spending beyond their means and how to avoid doing so. There are even calculators to show us how quickly saving –and … Continue reading →