How do you talk to your sons and daughters about spending and saving money? Teaching our children financial responsibility is one of the most important and beneficial things parents can do. Forbes.com’s article “Raising Financially Savvy Kids”, found here, features helpful teaching tips from Mary Hunt’s recently released book, “Raising Financially Confident Kids”. Hunt recommends starting financial conversations early, well before your children are able to handle money on their own. This article is worth reading; even if you learn nothing new it will remind you of ways to stay focused on this issue.
Financial literacy is more than just helping children save money for a new toy or for the collection plate. Our kids need to grow up understanding the power of investing, the use/abuse of credit, and generally how to make sound economic decisions. We at GCP want to develop a broader financial literacy lesson plan for our readers to follow, and we’ll be bringing you advice from people who can help.
We need your help too. Have any tips on or questions about talking to your children about money matters? Let’s hear them!