| Young children often have no concept of where | | | | pieces of paper. Then total up the family's income |
| money comes from. Every parent wants to | | | | for the month. While fake money works well, if |
| make sure their children have their needs and | | | | you have have the actually money available for a |
| wants filled however what are you teaching your | | | | one time presentation, it can really be eye |
| children about the value of money and hard work. | | | | opening. Give the bills to your children and have |
| It is easy to take out a credit card and instantly | | | | them collect payment from you. This is a great |
| gratify your desires however what sort of | | | | visual of how money is spent within the family, |
| message does that send to your child. Remember | | | | how hard earned pay checks are spent, and that |
| it is important to teach your children about money | | | | money really does not grow on trees. After the |
| and investing. Your children are never too young | | | | meeting discuss with the kids how everyone can |
| to be involved in their own financial success. | | | | do their part to cut spending and increase savings. |
| Developing money and investing skills early will | | | | Start your children investing. It takes very little |
| help their future success. | | | | money to invest in a mutual- $2000 is a just |
| Make sure you establish a savings account for | | | | enough to invest and turn a small profit. Let your |
| each child and have a plan. Even extremely young | | | | children have their "own" investments, and work |
| child understand the concept of a piggy bank. | | | | together to track it's growth or decline. Each dip |
| Establish an allowance for your child. Allow each | | | | and low in the market offers good investment |
| child to get paid for the chores they do around | | | | learning points. This will allow them to see that |
| the house. Encourage them to divide up their | | | | money can be saved and invested for the future. |
| earnings between a charity gift, short term | | | | Make sure your encourage your children to work. |
| savings for toys, pocket money, and long term | | | | For school aged children it may be extra chores |
| savings for a college education. If may seem silly | | | | around the house, or yard work. For teenagers it |
| but establishing good investments habits in | | | | may be a part time job after school. Letting |
| childhood can last throughout their lifetime. A good | | | | children understand that money comes from hard |
| balance for your children would be 10% charity, | | | | work and should not misspent is an important |
| 50% short term saving, 30% short term saving, | | | | lesson. Additionally it build self esteem and pride. |
| and 10% spending. As the child grows older and | | | | A family can also establish a savings fund for |
| his needs change the percentages can be | | | | items that benefit the whole family - a vacation, a |
| adjusted as they (and you) see fit. | | | | pool, dvds are also a great thing to save for. |
| Another great way to teach your child about | | | | Have a jar and post a chart of the progress. Each |
| money and investments is having a financial family | | | | of these suggestions are a great way to teach a |
| night. Make a list of all your monthly, and weekly | | | | child about money and see the benefits of saving |
| expenses. Write each expense on a separate | | | | and investing. |