Teaching Kids Finances

Teaching Kids Finances Is a Skill For Life

Teaching Kids Finances Is a Skill For Life

Teaching Kids Finances Is a Skill For Life



Helping kids develop money smarts is something many parents overlook in their quest to raise well rounded, happy members of society.


I believe that we need to be 'upping kids' financial IQ and would like to see more of this taught throughout their school years.
Why would you not teach your child how to swim, if you knew that once they grew up they would have to swim to survive? Don’t allow your child to drown in debt due to a lack of financial intelligence.


Parents need to conquer their “big bugaboo” around money. The sooner they open up about family finances, the better.
Financial illiteracy is affecting marriages, more of which are ending due to money troubles, and driving up bankruptcy rates.


Kids can be taught to be entrepreneurs by generating money based on their particular passions, gifts and abilities. I recommend that parents teach their children how to leverage their time and money, bone up on the magic of compound interest and explore the freedom that comes with having created a passive income.


I love to see kids empowered. If you have to ask or beg for money it doesn’t make you feel good. When you create your own money you feel confident about yourself. And with that you are teaching your children that they are giving something back to the world.


So, how do kids create their own cash? Some ideas are, if your child is good for example in basketball then get them to do a video on some special moves and techniques which they could sell online. Maybe they could tutor other students and charge a fee. Simple lawn and garden services, dog walking or running errands for seniors are good entrepreneurial jobs kids can take on fairly easily. Even the classic lemonade stands are some simple ways to get started. Work with your children to do something they are good at.


A former teaching assistant and tutor, van der Gulik uses storytelling as the main teaching method in a 12-module course at www.teachingchildrenaboutmoney.com. Through audio, video, cartoons, storybooks, novels and workbooks, students learn about setting goals, how to value money and how to stay focused on the road to financial success.


Teaching your children entrepreneurial skills give an automatic boost of self –esteem by applying the skills learned from an education in economics.
By saying things like, “We can’t afford it. I’m not good enough” is teaching your children negative thoughts instead of saying “How can I make it happen?” it changes your brain to think positively and you’ll think “OK, I have to find a way.


As adults we are responsible to train our children to become the best people in society that they can be possibly be and teaching by teaching them positive thinking at a very young age will give them a huge advantage in life skills as an adult.


Some resources for money-smart kids are:
www.moonjar.ca
www.moneysmarts4kids.com


Try some online money games:
www.practicalmoneyskills.ca
www.piggybank.disney.go.com
www.famzoo.com


For the parents who want to work from home, free up some time for the kids, make a passive income by doing a blog like this one then click here to Check It Out.


http://www.barbmarian.com


Teaching Kids Finances Is a Skill For Life - Video #24