Financial Education for Your Kids

Very few schools give students an education on personal finance and learning the value of the dollar.  When these students graduate, go off to college and are largely living on their own – they can often struggle with managing their own finances.  It is very important to start financial education early on in your child’s life to prepare them for when they are adults.

An easy lesson you can teach to your middle school child is to have them shop for their back to school items.  You can give them a budget and work with them to make a list of things that they need and things that they want.  They can even go online and do price comparisons to see which stores have the best deals on supplies.  This will help them realize there might not always be enough money in their budget for the things they want but the more they are able to save on what they need, more will be left over for extras.  And who knows, maybe when they realize how expensive items on their “want” list are, they might realize they can do without.