If you are a parent or grandparent, how important is it to you to be a positive influence in the lives of young ones when it comes to personal finances?
Financial literacy experts tell us that Americans don’t have basic financial literacy skills. Is there something you can do with your children (or grandchildren) to help them learn sound financial decision-making?
It doesn’t take much to make a difference. The starting point can be as simple as reading a book together. There are several choices for children, even for those as young as 3.
“My First Money Book” by Reggie Nelson is a colorful 42-page guide for parents and children covering “saving, spending, sharing and investing.”
“Money Ninja” and “Investor Ninja,” both by Mary Nhin, are two titles whose goal is to raise financially savvy children. I can’t argue with that mission. Struggles considered include: “I wish I could buy the new game, but my mom won’t give me the money. And, I already spent my allowance on library fines.”
Or what about this exchange in “The Steady Road to a Million Dollars,” by Brad R. Biagi, about a real kid who started learning at age 5.
“Bradley, how much money is this?”
“$25, Daddy.”
“If you put this in your piggy bank and let it sit overnight, how much will it be tomorrow?”
“It will still be $25, Daddy.”
[And after a month?]
“It will still be $25 Daddy: It can’t change to another number in my piggy bank.”
If you read that dialogue, it easily leads to questions you and your child or grandchild can consider, leading to a greater understanding of saving and the use of funds. It can also lead to an allowance or earning money for doing chores.
...from News https://www.ctpost.com/news/article/julie-jason-kids-and-finances-can-you-be-a-17804775.php
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