Raising Money-Smart Kids

What Does Your Child Know About Money?

Any four-year-old can tell you where money comes from—the ATM, of course. But once kids learn that money buys candy and toys, many begin collecting every nickel.

Exposing children early on to the everyday realities of earning money and managing the family’s budget can help shape how they feel about money throughout their lives. The key is to keep it simple in the beginning and provide more details as you go along. Here’s what they should know at three milestone stages, based on recommendations made by the Jump$tart Coalition, a Washington, DC-based non-profit that promotes financial literacy in children.

Teaching Your Kids to Save—and Love It

Want to get your kids to save? Start by telling them that money doesn’t just sit in their credit union… it grows. Every day.

To motivate them, try sweetening the deal. Tell them you’ll match every dollar they save. So for every dollar… they’ll have two. Can’t afford that much? Give them a quarter. You’ll be saving together for their future.