Helping your kids learn about money

Once your child is old enough to have a piggy bank, she is old enough to start learning about money mangement. Here are some tips on how to help them save and spend responsibly

Originally published July, 2007

By Lindsay MacAdam

Photo by Ryasick/Fotolia

3) Savings goals may need to be negotiated.

If you feel your children’s goals are too steep to be met in a reasonable amount of time, you may want to agree to match their savings (perhaps $1 for every $1 they save). This will encourage them to save their money and may keep them from feeling discouraged by a large savings goal that seems insurmountable.

Kids should still be allowed to be kids, so don’t lay it on too thick. Keehn suggests keeping your child’s cash curriculum simple and fun, to prepare them for a future of using money armed with the right financial knowledge.

For more information, visit Kelley Keehn’s website or Kelley Keehn’s blog.