Teaching Kids Basic Personal Finance Concepts

Since schools no longer teach basic personal finance concepts, a lot of parents feel it is their job alone to teach money matters.

 Don’t forget to let your kids learn with you by involving them when you learn about your own personal finances.

Involve your kids in learning basic personal finance concepts and teach them saving through budgets.

How I Grew Up Financially Prepared

My parents have taught me many great things about finances from being a six-year-old, to a sixteen-year-old, to a college student.

How I Grew Up Financially Prepared

Ever since I was little, I was taught that if I wanted a toy, I would have to work to earn the money to pay for that toy.

Learning Personal Finance Concepts like Saving

 I learned several large concepts that I believe will help me very much in my new adult life. The first and major is to save for things I want or need.

Learning Personal Finance Concepts like Saving

For example, when I was little I saved my birthday and Christmas money for a couple years so I could afford a personal computer.

Forcing a Budget to Teach Kids Saving

When I was sixteen, my parents stopped paying for all of my activities directly. What they did is calculated how much money they spent on my siblings and me and gave me the even portion of that money per month.

I soon realized paying for things like clothes, and gas, and marching band fees, was going to take a lot of budgeting practice and planning. I researched budgeting and with the help of my parents, discovered the envelope method of budgeting. 

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