3 Tools to Teach Your Kids Practical Money Skills

Financial education is full of concepts and ideas that will help you be successful but most people just need some practical money skills to help them get out from under the paycheck-to-paycheck curse.

Here we'll walk through practical money lessons that are powerful tools to give your kids a head start on life.

How My Parents Taught Me Practical Money Skills

My father is a mechanic. His love of fixing things colored every thought and he was always trying to relate being a mechanic to other parts of life to teach us something. 

The first practical money skill my parents taught me was how to create a budget. My parents didn’t make a lot of money but they always seemed to have a little left over each month for savings. 

Practical Money Lessons Everyone Should Learn

Practical Money Lessons Everyone Should Learn

The second money tool my parents made sure to emphasize was the good use of credit. My parents didn’t use credit cards much but they didn’t want us growing up not understanding what credit was. 

Games to Teach Practical Money Skill

My parents used two games to teach us practical money skills, two fun activities that really helped practice the concepts. The first game we would play was a budget problem solver.

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