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A place for Get Rich Slowly readers to ask questions
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It is currently Thu Apr 24, 2014 9:14 am




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 Post subject: Re: How can we teach our kids early about managing money?
PostPosted: Sun Sep 02, 2012 7:02 am 

Joined: Wed Aug 29, 2012 8:04 pm
Posts: 4
If you are good at managing your finances, then you should lead your child by example. Maybe what you can do is you can start by not giving extra money if your child finishes her/his pocket money for the day? Then they will learn the importance of saving up and not to splurge anyhow they want.

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 Post subject: Re: How can we teach our kids early about managing money?
PostPosted: Thu Nov 15, 2012 7:11 pm 

Joined: Sun Sep 30, 2012 7:17 pm
Posts: 4
As a child, I loved games, and I think that we underestimate the educational benefits of games as adults. I used to play Lemonade Stand for hours on the computer and really got into the process of ordering, marketing and distribution through that game. I also loved puzzles and card games which has been invaluable for problem solving as an adult. As a teacher of mathematics I used games like Yahtzee and variations of Bingo to get kids to do multiplication and addition. And getting kids to develop their own games was a great exercise for learning compound interest and taxation.

I agree that we need more resources to teach kids about money. It frustrated me that there were only limited units on this in Mathematics and only for select kids. For that reason I am writing a series of books to help students learn about personal finance and to give parents something to refer to that is written for teens.

You can see more suggestions on my blog and access my books here: http://michellecroner.blogspot.com.au/p/my-books.html

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 Post subject: Re: How can we teach our kids early about managing money?
PostPosted: Sat May 18, 2013 4:19 am 

Joined: Thu May 16, 2013 4:06 pm
Posts: 5
Teaching kids about financial stuffs right from their school time is essentially crucial as they will learn the value of money and manage their time between studies and making money well. These kids can learn multitasking fast and make better people as they grow up, becoming independent adults


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 Post subject: Re: How can we teach our kids early about managing money?
PostPosted: Wed Jul 31, 2013 9:07 am 

Joined: Tue Jul 30, 2013 10:00 am
Posts: 1
I was raised to understand the value of money. Like any other practical skill in life - teaching kids early about managing money is very important. Kids should realize that money is given to them is hard earned money.


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 Post subject: Re: How can we teach our kids early about managing money?
PostPosted: Thu Aug 15, 2013 1:13 pm 

Joined: Fri May 04, 2007 8:14 pm
Posts: 1569
T Rowe Price has just started a new Web site teaching financial literacy to kids. There are sections for teachers, parents and kids; you don't have to be a T Rowe Price client to use it. The kids' section includes financial games that were developed with Disney.

https://corporate.troweprice.com/Money-Confident-Kids/Site/Home

Frankly, I know a few adults that could benefit from this site, never mind kids.


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 Post subject: Re: How can we teach our kids early about managing money?
PostPosted: Fri Aug 16, 2013 2:06 am 

Joined: Fri Jul 19, 2013 3:57 am
Posts: 17
Location: California, US
Kids of today don’t need to understand how money can be spent, but they need to know how money works.
For parents to have a kid who is money-wise is a boon because it makes those save or splurge decisions easier to handle. There’s no right age for having that money talk with your kids. If he or she can spend or borrow, they sure can learn to save and invest.


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 Post subject: Re: How can we teach our kids early about managing money?
PostPosted: Sat Jan 18, 2014 11:05 am 

Joined: Fri Dec 20, 2013 6:36 am
Posts: 15
Should be you great at coping with your financial plans, then you must direct your kid through example. Probably your skill is you can begin through not necessarily giving extra cash should your kid completes her/his pocket income for the day.


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