Help your kids become super savers! Kids have different levels of interest in financial education. But, research tells us that by the age of five most children understand money and what it can do. You can help your kids become smart money managers by starting with these basic tips, courtesy of the Pikes Peak Library District and Ent Federal Credit Union. Give kids money to manage. By letting your kids earn and manage their own money, they’ll have a better understanding of what things cost and how to prioritize their spending.Teach the value of saving. Get kids in the habit of saving early and offer incentives for saving. If they save a dollar, add 25 or 50 cents. This can be a great motivator for even the most die-hard spenders. Talk openly about money. Family finances have been a taboo topic in the past, but talking with your kids about how much things cost – like eating out, going to the movies and doing other fun things – can help them understand how you manage the family budget and encourage them to set up their own budgets. For more tips on raising money-smart kids, visit Ent.com/MoneySmartKids.
Leave a Reply