Sunday, September 25, 2011

Giving Kids Money-Smarts

How do we teach our kids to handle their money, when so many of us are struggling ourselves? Many homeschool families like to take on this challenge as part of their learning lifestyle. After all, you're never too old to learn how to save, invest, and spend wisely!

Recently, the San Jose Mercury News ran an article entitled, "Websites teach kids how to manage their money." The article included a list of websites aimed at kids, teens, and families for learning about and discussing finances. Here are some of my favorites from that list.

The Mint: This website has tabs for kids, teens, parents, and teachers. From savings and investing to decoding paychecks and tracking spending, The Mint covers many of the areas other websites, and certainly traditional financial education, neglect.

Kidnexions: This commercial site does sell books and software, but it also offers many free financial videos. Your kids (and you) can learn about the Rule of 72 (not even all bankers know this!), how compound interest works, and how to set financial goals.

U.S. Mint Kids: Is your child fascinated with all things "money"? The U.S. Mint's site for kids is filled with games, cartoons, and information about how money is designed and created. Learn about what the Mint does, how to collect coins, even facts about the U.S. Presidents and branches of government.

If your child is also in Cub Scouts, these websites can help with the Collecting, Mathematics, and Video Games belt loops and pins.

A strong financial education is one of the best gifts you can give to your child and yourself. Learn how your money works and how to make it work for you.

Article by Sarah J. Wilson

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