How much does your child know about finances? According to a recent survey, only five percent of adults received any kind of financial education in school. This is cause for concern when you look at the record high student loan and credit card debt.
Youth Savings Account
It’s commendable to raise your kids today with an eye toward the future. Teaching your child how to be financially independent will help smooth the transition into adulthood. It will also give your kid the tools he needs to achieve and maintain financial wellness throughout his life. Here are some tips for raising kids into financially independent adults.
There’s no better way to help a child learn the value of saving money than to actually help him do it. One way to get him started—make three jars. Label one for “playing,” one for “saving” and one for “sharing.” Then it’s time to introduce him to the credit union.
Kids who talk with their parents about money are more likely to continue good financial habits throughout adulthood. Get the conversation started with these helpful tips on how to raise a money-smart kid.
The best way to teach a child financial responsibility is by encouraging him to earn and manage his own money. As the weather warms and summer nears, there are many ways for your kids to pull in extra cash. In honor of Youth Savings Month, let’s take a look at nine easy ways for kids to make money.
As a parent you’re always trying to teach your child how to make good decisions. When it comes to making financial decisions, you want to influence your child to save and spend responsibly. How do you do that? Open a youth savings account! Your child will learn how to manage money and build lifelong savings habits. Here’s why your child needs a youth savings account.