Saturday, May 21, 2011

Financial Education for our kids?

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MPR photo/Tom Weber
How can we raise kids who appreciate the value of money? Kids who won't get a credit card from the first person who offers them a free t-shirt and rack up thousands of dollars of debt? Kids who will save their money in order to buy something they want? Kids who will give to others? This was the subject of a Minnesota Public Radio conversation on Friday. There was some great insight offered from two experts in the field- a writer and an educator. Here's a link to the conversation:

Financial advice and education for young people Minnesota Public Radio News

One idea that resonated was to provide your kids with three large transparent jars marked "spend" "save" and "give." Any time they receive money, they are expected to divide it evenly between the three. This teaches them in a simple way how we don't just spend all of the money we take in, there is a need to save some and we should give some to others who are less fortunate.

How did you learn about money? How do you plan to teach your kids?

1 comment:

  1. In highschool, my mom would give us our lunch money for the whole month on the 1st. It was up to us to budget it each day. We could always come home and eat for free, but if we went out, we had to budget the money. I plan on doing the same with my kids.


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