In the money world, the term “financially literate”—or a related derivative—gets tossed around quite a bit. Not a whole lot of experts actually take the time to define exactly what financially literate means, leaving many statistics related to money habits…
Whether it’s a traditional fat little porcelain piggy or a decked out electronic coin sorting gadget-gizmo-thing, a piggy bank of some kind is pretty standard fare when it comes to getting kids learning about money, saving and budgeting. In some…
If there’s one basic skill your child needs to learn about money, it’s how to create a budget. It’s perhaps even more important than saving, because the budget shows your child how to distribute the savings he puts together and…
Virtually all financial experts agree that learning how to make a basic budget is one of the keys to monetary stability. Making the budget alone is not enough, however. Your child also needs to be able to track his money…
By now, you should have a pretty good handle on the idea that kids and saving need to go together tighter than peanut butter and jelly. Of course, more than one way for kids to save is available. Two of…
Allowance is one of the most debated topics when it comes to teaching children financial literacy. A huge part of the controversy is whether the allowance is challenging enough—that is, whether it teaches entitlement. If you don’t plan on connecting…
Education is one of the fastest growing costs families face, so some saving is a virtual requirement if you plan to send your kids to college. 529 Plans At least some of the money you put away for your child’s…
Saving supports just about every other financial task and decision your child later learns. How much your child should save isn’t clearcut. To decide what is best for your child, approach saving with a few considerations in mind. The…
Next to housing costs, food bills are the highest economic concern for the American family. Nicole Seghetti of The Motley Fool reports that a modest average receipt for a family of four standing at roughly $237 a week ($12,300 annually)…
Just about everybody has the proverbial “rainy day” when it comes to finances, and even if your children have an exceptionally trouble-free, they still need to save for the retirement years. The sooner you encourage your kids to save, the…