Teaching Kids Financial Skills: Here Are 5 Things Children Need to Learn About Money! by juniorCEOs

Kids
9 months ago
Teaching Kids Financial Skills: Here Are 5 Things Children Need to Learn About Money!

Parents, our kids need to learn financial skills! Here are the top five things kids should learn about finances:

  • The Importance of Future Planning: Future financial planning involves several money-handling skills that students should be exposed to at a younger age. Learning how to save money for predictable and unpredictable events can help them avoid a few problems. For instance, debt, foreclosure, bankruptcy or other financial pitfalls in the future. 
  • Budgeting Personal Finance and Chores: Budgeting conversations at home can start at a fairly young age by defining wants vs. needs. Teaching children how to manage their own finances will affect their spending habits in the future.
  • Investing in Long-term Gains: A riveting, hands-on lesson can be comprised of investing fake money and using real stock-market data to measure results.
  • How to Pay for College Without Loans: Students need to know that there are more ways to afford the rapidly rising cost of higher education than with high-interest loans. Options like work-study, financial aid applications and scholarships could help students pay for college without much debt. 
  • Entrepreneurship: Kids that start or help a small business or charity may think outside the box and exercise their creativity.

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Elisa All Schmitz 30Seconds
YES! Kids need these skills, the sooner the better. Many thanks for sharing these insights with us, juniorCEOs . Excited to welcome you to our community of writers and look forward to seeing more from you!
Ann Marie Gardinier Halstead
Such great tips here. Thanks for sharing them with us, juniorCEOs !
Mike Prochaska
I would be happy if they didn’t empty there bank all the time. I always find pennies all over there rooms

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