9 Ways To Teach Kids About Money
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This document provides 9 ways to teach kids about money including introducing money as they learn to count, discussing the value of money with them, helping them understand the difference between needs and wants, teaching them how to set goals, introducing the concepts of saving versus spending, giving allowances in denominations to encourage saving, opening a bank account for them, keeping records of money transactions, and teaching budgeting skills.
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The document discusses the importance of starting a savings account for children to teach them the value of saving money from a young age. It recommends shopping around for banks and accounts that fit your needs, depositing money received from gifts into the account to demonstrate the act of saving, and using the interest earned to fund goals like college. Encouraging children to save for toys or clothes can make the process fun while imparting valuable financial skills.
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This 3 sentence summary provides the key details about the basic financial literacy program described in the document:
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Presentation will discuss teaching high school students how to manage their finances, a skill rarely taught in school yet all of us need to use in the "real world." In light of the current financial crisis, the need to teach students personal finance could not be more relevant.
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9 Ways To Teach Kids About Money
- 1. 9 Ways to Teach Kids About Money
- 2. As soon as your kids start counting, introduce them to money
- 3. Sit with your kid and discuss value of money
- 4. Help children learn the differences between needs and wants
- 5. Teach how to set a Goal
- 6. Introduce children to the value of saving versus spending
- 8. Take them to bank and open their own saving account
- 9. Keeping good records of money saved, invested or spent
- 10. Teach your kid about budgeting
- 11. Follow us on Twitter @KIDSFN Facebook : KIDS FINANCIAL NETWORKS