In a recent post, I talked about the choices kids have for money: save, spend, donate and invest. Now it’s time to discuss the next step – how to help kids set realistic goals for each of those choices.
In a recent post, I talked about the choices kids have for money: save, spend, donate and invest. Now it’s time to discuss the next step – how to help kids set realistic goals for each of those choices.
It’s tempting to guide our children to a certain choice — such as save — and away from another — such as spend. But it’s important to let kids decide how much money should be allocated to each money choice (save, spend, donate and invest). Continue reading
Without drastic improvement in their financial skills, of every six kids in this country today: Continue reading
Here’s how to get started with using allowance to jump start the budgeting process. Prepare for this discussion by giving your child a copy of their prior allowance contract. Continue reading