S E G M E N T S: Teaching Kids about Money
Between the Ages 4 & 7
- Teaching your kids how to count bills & coins. ( Monopoly, or playing store at home )
- Allowing them to pay at grocery stores.
- Teach them about Chores & an allowance
- Don't argue about Money
Between Ages 8 & 12
- Teaching them about Saving for Something they want to buy & the significance of saving
- Open a bank Account & teaching them about the checking & savings acct.
- Allocate Allowance towards savings.
- Creating a budget for the Groceries
Between Ages 13 & 15
- This is where you educate your kids on Budgeting, Income & Expenses
- Understand costs of Buying a Car
- Understanding their Financial Wants & Needs
- Teaching them about using a Debit & Credit Card
Between Ages 16 & 18
- Teaching them about the ROI of College
- Store Valued Cards
- Basics of Investing & Different Financial Accounts
- Household Expenses for Living on Their Own
- Educating them about Business & side hustles
Ages: 2 - 3: You can teach your kids about each coin. You can give them play money to "play store" & have them buy their own cereal or toy.
Ages 4 - 5: Let your kids help you cut out coupons & when you go to the store they can help you find the items.
- This is a fun way for your children to feel like they're helping while learning about Saving.
Ages 6 - 7: Kids like Collecting, maybe spark their interest in Coin Collecting. If you give kids an allowance, teach them about what it means to do a chore & earn money.
Ages 8 - 12: Open a bank account for your kid & encourage them to start saving & what that means. Teach them about Comparison Shopping.
For example: Buying Toilet Paper from Costco vs other Grocery stores
Ages: 13 - 15: Help your kids set a family budget with you & learn wants vs needs. This wouldbe great time to teach them budgeting & how to buy a car with cash vs what Financing would cost & why not to finance a brand new car.
Ages 16 - 18: Perfect time to get your kids interested in the Stock Market. Teach them the costs of college & if their career choice will pay for the lifestyle they want.
O u t r o: Positivity is a 2 way street. The more Positive thoughts you put out, the more postive energy will flow back.--- Send in a voice message: https://anchor.fm/saunaie/message Support this podcast: https://anchor.fm/saunaie/support