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Teach Your Children Why They Should Manage Money

You can teach your children how to budget, how to save, and how to shop sales, but if you neglect to teach them why they should do these things, it will doesn’t matter that you taught them everything else. It is important for your children to learn the reasons that money management is so important. This will help to motivate them to do it the right way when they grow older. Here are four things you can do to teach them. 1) You can show your children what happens when money is managed poorly. One way is to give them … Continue reading →

Parent Bank

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Once your kids are old enough to write, you may want to consider the idea of opening up a local parent bank. What is a parent bank you say? Well, it is a fun and informative way to teach kids about money and the banking process, as well as curbing the “impulse buy.” Often kids feel money just burns a hole in their pockets. When the day comes they finally get some, they can’t wait to get out and spend. It doesn’t really even matter what they are buying, they just want to spend. Sound familiar? This is a common … Continue reading →

Teaching Your Children to Manage Money with Christmas Shopping

One easy way to begin to teach your children about budgeting is to sit down and help them plan out a Christmas budget. This can work for older elementary children, as well as teenagers. If you are helping your children to buy Christmas presents for their friends and family members this is a great way to help limit the spending, while still giving your child freedom to make their own choices regarding gifts. You may want to start by deciding with your child who she will be giving gifts to. You should take into consideration Secret Santa exchanges that may … Continue reading →

Four Ways to Teach Your Children the Importance of Giving

One important aspect of handling your money properly is that it allows you to give to others. Nearly every book I have read about money (and I’ve read quite a few) mentions the importance of charitable giving. It is important to teach your children at a young age this aspect of money management. It will allow them to see how much money can help those in need. Here are four ways that you can teach your children about giving and money management. 1) If you attend a church that accepts donations you may encourage your children to donate to the … Continue reading →