Teach Your Kids About Money

CNN features a terrific article on teaching your kids the value of a dollar and a whole lot more. They remind us that children learn about money by watching us every day. Be sure to take this opportunity to model the right lessons for your child’s financial future.

Here’s a quick summary:

1. Don’t say “We can’t afford it”

Use the right language to teach your child about money. Help your children learn that they have choices about how to use the money they have. Use an allowance to help your child understand the concepts of spending and saving.

2. Show them the money

Use cash as much as possible and educate them on credit cards if and when you use them. Talk with them about your checking and savings account balances as well as any credit card balances or outstanding loans. Let them help you make payments and do simple bookkeeping.

3. Talk about how much things cost

Discuss today’s expenses with your child as they occur. Give your child ideas about money that they can understand, relating costs to values they can grasp. Children pick up a lot about finance just by discussing it regularly.

4. Buy something that isn’t on your list

Sometimes we need to be flexible and buy things off the list. Being smart with money can also mean spending wisely, taking advantage of a sale or capitalizing on an unplanned opportunity.

5. Be open with your spouse about money

Some partners hide spending to avoid criticism from the spouse. Kids learn distrust from this and that money is a secretive topic even within one’s own family. Take steps to foster the right kind of attitude about money in your child.

Here’s the entire article.



Comments (68)    Posted in Wealth Building Tips |    

Subscribe RSS 2.0 feed. Leave a response, or Trackback from your own site.





68 Responses to 'Teach Your Kids About Money'

  1. Retire Wealthy by Increasing Your Knowledge of Money and Finance | Hot Beatle - April 6th, 2007 at 5:56 pm

    [...] finance and investing is to help your kids learn about money and investing. If you are trying to increase your financial IQ and learn about money you should also pass that information on to your kids so they aren’t clueless. You’ll be able [...]

  2. Retire Wealthy by Increasing Your Knowledge of Money and Finance | Informa Web Review - April 6th, 2007 at 6:26 pm

    [...] finance and investing is to help your kids learn about money and investing. If you are trying to increase your financial IQ and learn about money you should also pass that information on to your kids so they aren’t clueless. You’ll be able [...]

  3. Retire Wealthy by Increasing Your Knowledge of Money and Finance | Infotork Reviews - April 6th, 2007 at 7:12 pm

    [...] finance and investing is to help your kids learn about money and investing. If you are trying to increase your financial IQ and learn about money you should also pass that information on to your kids so they aren’t clueless. You’ll be able [...]

  4. Retire Wealthy by Increasing Your Knowledge of Money and Finance | Kaboomsky Reviews - April 6th, 2007 at 7:22 pm

    [...] finance and investing is to help your kids learn about money and investing. If you are trying to increase your financial IQ and learn about money you should also pass that information on to your kids so they aren’t clueless. You’ll be able [...]

  5. Retire Wealthy by Increasing Your Knowledge of Money and Finance | Keyword Density - April 6th, 2007 at 7:37 pm

    [...] finance and investing is to help your kids learn about money and investing. If you are trying to increase your financial IQ and learn about money you should also pass that information on to your kids so they aren’t clueless. You’ll be able [...]

  6. Retire Wealthy by Increasing Your Knowledge of Money and Finance | Link Bait - April 6th, 2007 at 7:43 pm

    [...] finance and investing is to help your kids learn about money and investing. If you are trying to increase your financial IQ and learn about money you should also pass that information on to your kids so they aren’t clueless. You’ll be able [...]

  7. Retire Wealthy by Increasing Your Knowledge of Money and Finance | Latest World News - April 6th, 2007 at 7:44 pm

    [...] finance and investing is to help your kids learn about money and investing. If you are trying to increase your financial IQ and learn about money you should also pass that information on to your kids so they aren’t clueless. You’ll be able [...]

  8. Retire Wealthy by Increasing Your Knowledge of Money and Finance | Link Search Tool - April 6th, 2007 at 7:57 pm

    [...] finance and investing is to help your kids learn about money and investing. If you are trying to increase your financial IQ and learn about money you should also pass that information on to your kids so they aren’t clueless. You’ll be able [...]

  9. Retire Wealthy by Increasing Your Knowledge of Money and Finance | Lindsay Lohan - April 6th, 2007 at 8:08 pm

    [...] finance and investing is to help your kids learn about money and investing. If you are trying to increase your financial IQ and learn about money you should also pass that information on to your kids so they aren’t clueless. You’ll be able [...]

  10. Retire Wealthy by Increasing Your Knowledge of Money and Finance | Market Links - April 6th, 2007 at 8:09 pm

    [...] finance and investing is to help your kids learn about money and investing. If you are trying to increase your financial IQ and learn about money you should also pass that information on to your kids so they aren’t clueless. You’ll be able [...]

  11. Retire Wealthy by Increasing Your Knowledge of Money and Finance | Modified Scripts - April 7th, 2007 at 5:24 pm

    [...] finance and investing is to help your kids learn about money and investing. If you are trying to increase your financial IQ and learn about money you should also pass that information on to your kids so they aren’t clueless. You’ll be able [...]

  12. Retire Wealthy by Increasing Your Knowledge of Money and Finance | mp5 Pro - April 7th, 2007 at 7:02 pm

    [...] finance and investing is to help your kids learn about money and investing. If you are trying to increase your financial IQ and learn about money you should also pass that information on to your kids so they aren’t clueless. You’ll be able [...]

  13. Retire Wealthy by Increasing Your Knowledge of Money and Finance | Emotions - April 7th, 2007 at 10:16 pm

    [...] finance and investing is to help your kids learn about money and investing. If you are trying to increase your financial IQ and learn about money you should also pass that information on to your kids so they aren’t clueless. You’ll be able [...]

  14. Retire Wealthy by Increasing Your Knowledge of Money and Finance | My Tag Store - April 7th, 2007 at 10:38 pm

    [...] finance and investing is to help your kids learn about money and investing. If you are trying to increase your financial IQ and learn about money you should also pass that information on to your kids so they aren’t clueless. You’ll be able [...]

  15. Retire Wealthy by Increasing Your Knowledge of Money and Finance | United Nations - April 7th, 2007 at 10:43 pm

    [...] finance and investing is to help your kids learn about money and investing. If you are trying to increase your financial IQ and learn about money you should also pass that information on to your kids so they aren’t clueless. You’ll be able [...]

  16. Retire Wealthy by Increasing Your Knowledge of Money and Finance | New Buy - April 7th, 2007 at 10:47 pm

    [...] finance and investing is to help your kids learn about money and investing. If you are trying to increase your financial IQ and learn about money you should also pass that information on to your kids so they aren’t clueless. You’ll be able [...]

  17. Retire Wealthy by Increasing Your Knowledge of Money and Finance | New Gold Coast - April 7th, 2007 at 10:50 pm

    [...] finance and investing is to help your kids learn about money and investing. If you are trying to increase your financial IQ and learn about money you should also pass that information on to your kids so they aren’t clueless. You’ll be able [...]

  18. Retire Wealthy by Increasing Your Knowledge of Money and Finance | Pauls Designs - April 7th, 2007 at 10:58 pm

    [...] finance and investing is to help your kids learn about money and investing. If you are trying to increase your financial IQ and learn about money you should also pass that information on to your kids so they aren’t clueless. You’ll be able [...]

  19. Retire Wealthy by Increasing Your Knowledge of Money and Finance | Paul Sells - April 7th, 2007 at 11:01 pm

    [...] finance and investing is to help your kids learn about money and investing. If you are trying to increase your financial IQ and learn about money you should also pass that information on to your kids so they aren’t clueless. You’ll be able [...]

  20. Retire Wealthy by Increasing Your Knowledge of Money and Finance | Price Links - April 7th, 2007 at 11:05 pm

    [...] finance and investing is to help your kids learn about money and investing. If you are trying to increase your financial IQ and learn about money you should also pass that information on to your kids so they aren’t clueless. You’ll be able [...]

  21. Retire Wealthy by Increasing Your Knowledge of Money and Finance | Privacy - April 7th, 2007 at 11:07 pm

    [...] finance and investing is to help your kids learn about money and investing. If you are trying to increase your financial IQ and learn about money you should also pass that information on to your kids so they aren’t clueless. You’ll be able [...]

  22. Retire Wealthy by Increasing Your Knowledge of Money and Finance | Pyxyl Web Reviews - April 7th, 2007 at 11:18 pm

    [...] finance and investing is to help your kids learn about money and investing. If you are trying to increase your financial IQ and learn about money you should also pass that information on to your kids so they aren’t clueless. You’ll be able [...]

  23. Retire Wealthy by Increasing Your Knowledge of Money and Finance | Radio Distributor - April 8th, 2007 at 1:21 am

    [...] finance and investing is to help your kids learn about money and investing. If you are trying to increase your financial IQ and learn about money you should also pass that information on to your kids so they aren’t clueless. You’ll be able [...]

  24. Retire Wealthy by Increasing Your Knowledge of Money and Finance | Spank - April 8th, 2007 at 1:37 am

    [...] finance and investing is to help your kids learn about money and investing. If you are trying to increase your financial IQ and learn about money you should also pass that information on to your kids so they aren’t clueless. You’ll be able [...]

  25. Retire Wealthy by Increasing Your Knowledge of Money and Finance | Span - April 8th, 2007 at 1:51 am

    [...] finance and investing is to help your kids learn about money and investing. If you are trying to increase your financial IQ and learn about money you should also pass that information on to your kids so they aren’t clueless. You’ll be able [...]

  26. Retire Wealthy by Increasing Your Knowledge of Money and Finance | Spin Links - April 8th, 2007 at 2:08 am

    [...] finance and investing is to help your kids learn about money and investing. If you are trying to increase your financial IQ and learn about money you should also pass that information on to your kids so they aren’t clueless. You’ll be able [...]

  27. Retire Wealthy by Increasing Your Knowledge of Money and Finance | Sports World - April 8th, 2007 at 2:21 am

    [...] finance and investing is to help your kids learn about money and investing. If you are trying to increase your financial IQ and learn about money you should also pass that information on to your kids so they aren’t clueless. You’ll be able [...]

  28. Retire Wealthy by Increasing Your Knowledge of Money and Finance | Sticker For You - April 8th, 2007 at 2:34 am

    [...] finance and investing is to help your kids learn about money and investing. If you are trying to increase your financial IQ and learn about money you should also pass that information on to your kids so they aren’t clueless. You’ll be able [...]

  29. Retire Wealthy by Increasing Your Knowledge of Money and Finance | Techno Tork - April 8th, 2007 at 3:24 pm

    [...] finance and investing is to help your kids learn about money and investing. If you are trying to increase your financial IQ and learn about money you should also pass that information on to your kids so they aren’t clueless. You’ll be able [...]

  30. Retire Wealthy by Increasing Your Knowledge of Money and Finance | Transfers - April 8th, 2007 at 3:46 pm

    [...] finance and investing is to help your kids learn about money and investing. If you are trying to increase your financial IQ and learn about money you should also pass that information on to your kids so they aren’t clueless. You’ll be able [...]

  31. Retire Wealthy by Increasing Your Knowledge of Money and Finance | Account Links - April 8th, 2007 at 6:13 pm

    [...] finance and investing is to help your kids learn about money and investing. If you are trying to increase your financial IQ and learn about money you should also pass that information on to your kids so they aren’t clueless. You’ll be able [...]

  32. Retire Wealthy by Increasing Your Knowledge of Money and Finance | User Links - April 8th, 2007 at 7:28 pm

    [...] finance and investing is to help your kids learn about money and investing. If you are trying to increase your financial IQ and learn about money you should also pass that information on to your kids so they aren’t clueless. You’ll be able [...]

  33. Retire Wealthy by Increasing Your Knowledge of Money and Finance | Watch Links - April 9th, 2007 at 5:11 pm

    [...] finance and investing is to help your kids learn about money and investing. If you are trying to increase your financial IQ and learn about money you should also pass that information on to your kids so they aren’t clueless. You’ll be able [...]

  34. Retire Wealthy by Increasing Your Knowledge of Money and Finance | Web Cuddles - April 9th, 2007 at 5:32 pm

    [...] finance and investing is to help your kids learn about money and investing. If you are trying to increase your financial IQ and learn about money you should also pass that information on to your kids so they aren’t clueless. You’ll be able [...]

  35. Retire Wealthy by Increasing Your Knowledge of Money and Finance | Woompah Web Reviews - April 9th, 2007 at 5:43 pm

    [...] finance and investing is to help your kids learn about money and investing. If you are trying to increase your financial IQ and learn about money you should also pass that information on to your kids so they aren’t clueless. You’ll be able [...]

  36. Retire Wealthy by Increasing Your Knowledge of Money and Finance | Killer Designs - April 9th, 2007 at 5:54 pm

    [...] finance and investing is to help your kids learn about money and investing. If you are trying to increase your financial IQ and learn about money you should also pass that information on to your kids so they aren’t clueless. You’ll be able [...]

  37. Retire Wealthy by Increasing Your Knowledge of Money and Finance | LA Medical Relief - April 9th, 2007 at 5:59 pm

    [...] finance and investing is to help your kids learn about money and investing. If you are trying to increase your financial IQ and learn about money you should also pass that information on to your kids so they aren’t clueless. You’ll be able [...]

  38. Retire Wealthy by Increasing Your Knowledge of Money and Finance | Car Insurance Brokers - April 9th, 2007 at 6:29 pm

    [...] finance and investing is to help your kids learn about money and investing. If you are trying to increase your financial IQ and learn about money you should also pass that information on to your kids so they aren’t clueless. You’ll be able [...]

  39. Retire Wealthy by Increasing Your Knowledge of Money and Finance | Marc Epstein - April 9th, 2007 at 7:14 pm

    [...] finance and investing is to help your kids learn about money and investing. If you are trying to increase your financial IQ and learn about money you should also pass that information on to your kids so they aren’t clueless. You’ll be able [...]

  40. Retire Wealthy by Increasing Your Knowledge of Money and Finance | May Be Mums - April 9th, 2007 at 7:32 pm

    [...] finance and investing is to help your kids learn about money and investing. If you are trying to increase your financial IQ and learn about money you should also pass that information on to your kids so they aren’t clueless. You’ll be able [...]

  41. Retire Wealthy by Increasing Your Knowledge of Money and Finance | Port Orford Real Estate - April 9th, 2007 at 7:49 pm

    [...] finance and investing is to help your kids learn about money and investing. If you are trying to increase your financial IQ and learn about money you should also pass that information on to your kids so they aren’t clueless. You’ll be able [...]

  42. Retire Wealthy by Increasing Your Knowledge of Money and Finance | All Green - April 10th, 2007 at 12:25 am

    [...] finance and investing is to help your kids learn about money and investing. If you are trying to increase your financial IQ and learn about money you should also pass that information on to your kids so they aren’t clueless. You’ll be able [...]

  43. Retire Wealthy by Increasing Your Knowledge of Money and Finance | Ant Colony - April 10th, 2007 at 3:11 am

    [...] finance and investing is to help your kids learn about money and investing. If you are trying to increase your financial IQ and learn about money you should also pass that information on to your kids so they aren’t clueless. You’ll be able [...]

  44. Retire Wealthy by Increasing Your Knowledge of Money and Finance | Skin Disease Room - April 10th, 2007 at 3:57 am

    [...] finance and investing is to help your kids learn about money and investing. If you are trying to increase your financial IQ and learn about money you should also pass that information on to your kids so they aren’t clueless. You’ll be able [...]

  45. Retire Wealthy by Increasing Your Knowledge of Money and Finance | Laggs Finance - April 10th, 2007 at 4:12 am

    [...] finance and investing is to help your kids learn about money and investing. If you are trying to increase your financial IQ and learn about money you should also pass that information on to your kids so they aren’t clueless. You’ll be able [...]

  46. Retire Wealthy by Increasing Your Knowledge of Money and Finance | Plugs Man - April 10th, 2007 at 2:49 pm

    [...] finance and investing is to help your kids learn about money and investing. If you are trying to increase your financial IQ and learn about money you should also pass that information on to your kids so they aren’t clueless. You’ll be able [...]

  47. Retire Wealthy by Increasing Your Knowledge of Money and Finance | Royal 7 - April 10th, 2007 at 3:00 pm

    [...] finance and investing is to help your kids learn about money and investing. If you are trying to increase your financial IQ and learn about money you should also pass that information on to your kids so they aren’t clueless. You’ll be able [...]

  48. Retire Wealthy by Increasing Your Knowledge of Money and Finance | World Health - April 10th, 2007 at 3:02 pm

    [...] finance and investing is to help your kids learn about money and investing. If you are trying to increase your financial IQ and learn about money you should also pass that information on to your kids so they aren’t clueless. You’ll be able [...]

  49. Retire Wealthy by Increasing Your Knowledge of Money and Finance | XH Type - April 10th, 2007 at 3:06 pm

    [...] finance and investing is to help your kids learn about money and investing. If you are trying to increase your financial IQ and learn about money you should also pass that information on to your kids so they aren’t clueless. You’ll be able [...]

  50. Retire Wealthy by Increasing Your Knowledge of Money and Finance | Your Little Shop - April 10th, 2007 at 3:07 pm

    [...] finance and investing is to help your kids learn about money and investing. If you are trying to increase your financial IQ and learn about money you should also pass that information on to your kids so they aren’t clueless. You’ll be able [...]

  51. Retire Wealthy by Increasing Your Knowledge of Money and Finance | Nissan Skyline - April 10th, 2007 at 3:11 pm

    [...] finance and investing is to help your kids learn about money and investing. If you are trying to increase your financial IQ and learn about money you should also pass that information on to your kids so they aren’t clueless. You’ll be able [...]

  52. Retire Wealthy by Increasing Your Knowledge of Money and Finance | Urgg Info - April 10th, 2007 at 3:17 pm

    [...] finance and investing is to help your kids learn about money and investing. If you are trying to increase your financial IQ and learn about money you should also pass that information on to your kids so they aren’t clueless. You’ll be able [...]

  53. Retire Wealthy by Increasing Your Knowledge of Money and Finance | Live Football - April 10th, 2007 at 3:28 pm

    [...] finance and investing is to help your kids learn about money and investing. If you are trying to increase your financial IQ and learn about money you should also pass that information on to your kids so they aren’t clueless. You’ll be able [...]

  54. Retire Wealthy by Increasing Your Knowledge of Money and Finance | Movie Releases - April 10th, 2007 at 3:30 pm

    [...] finance and investing is to help your kids learn about money and investing. If you are trying to increase your financial IQ and learn about money you should also pass that information on to your kids so they aren’t clueless. You’ll be able [...]

  55. Retire Wealthy by Increasing Your Knowledge of Money and Finance | Spunky Links - April 10th, 2007 at 3:42 pm

    [...] finance and investing is to help your kids learn about money and investing. If you are trying to increase your financial IQ and learn about money you should also pass that information on to your kids so they aren’t clueless. You’ll be able [...]

  56. Retire Wealthy by Increasing Your Knowledge of Money and Finance | School Tales - April 10th, 2007 at 3:43 pm

    [...] finance and investing is to help your kids learn about money and investing. If you are trying to increase your financial IQ and learn about money you should also pass that information on to your kids so they aren’t clueless. You’ll be able [...]

  57. Retire Wealthy by Increasing Your Knowledge of Money and Finance | Technical World - April 10th, 2007 at 3:52 pm

    [...] finance and investing is to help your kids learn about money and investing. If you are trying to increase your financial IQ and learn about money you should also pass that information on to your kids so they aren’t clueless. You’ll be able [...]

  58. Retire Wealthy by Increasing Your Knowledge of Money and Finance | Secure Socket Layer - April 10th, 2007 at 3:53 pm

    [...] finance and investing is to help your kids learn about money and investing. If you are trying to increase your financial IQ and learn about money you should also pass that information on to your kids so they aren’t clueless. You’ll be able [...]

  59. Retire Wealthy by Increasing Your Knowledge of Money and Finance | World Finance - April 10th, 2007 at 4:04 pm

    [...] finance and investing is to help your kids learn about money and investing. If you are trying to increase your financial IQ and learn about money you should also pass that information on to your kids so they aren’t clueless. You’ll be able [...]

  60. Retire Wealthy by Increasing Your Knowledge of Money and Finance | Top News - April 10th, 2007 at 4:07 pm

    [...] finance and investing is to help your kids learn about money and investing. If you are trying to increase your financial IQ and learn about money you should also pass that information on to your kids so they aren’t clueless. You’ll be able [...]

  61. Pet Grooming Agency » Blog Archive » Retire Wealthy by Increasing Your Knowledge of Money and Finance - April 14th, 2007 at 6:37 pm

    [...] finance and investing is to help your kids learn about money and investing. If you are trying to increase your financial IQ and learn about money you should also pass that information on to your kids so they aren’t clueless. You’ll be able [...]

  62. Travel Lebanon Style » Blog Archive » Retire Wealthy by Increasing Your Knowledge of Money and Finance - April 14th, 2007 at 7:05 pm

    [...] finance and investing is to help your kids learn about money and investing. If you are trying to increase your financial IQ and learn about money you should also pass that information on to your kids so they aren’t clueless. You’ll be able [...]

  63. Scott Amour Photography » Blog Archive » Retire Wealthy by Increasing Your Knowledge of Money and Finance - April 14th, 2007 at 7:13 pm

    [...] finance and investing is to help your kids learn about money and investing. If you are trying to increase your financial IQ and learn about money you should also pass that information on to your kids so they aren’t clueless. You’ll be able [...]

  64. Sixth Exit » Blog Archive » Retire Wealthy by Increasing Your Knowledge of Money and Finance - April 14th, 2007 at 7:14 pm

    [...] finance and investing is to help your kids learn about money and investing. If you are trying to increase your financial IQ and learn about money you should also pass that information on to your kids so they aren’t clueless. You’ll be able [...]

  65. Stickland Coombe Photography » Blog Archive » Retire Wealthy by Increasing Your Knowledge of Money and Finance - April 14th, 2007 at 7:21 pm

    [...] finance and investing is to help your kids learn about money and investing. If you are trying to increase your financial IQ and learn about money you should also pass that information on to your kids so they aren’t clueless. You’ll be able [...]

  66. Flying Finance » Blog Archive » Retire Wealthy by Increasing Your Knowledge of Money and Finance - April 14th, 2007 at 7:24 pm

    [...] finance and investing is to help your kids learn about money and investing. If you are trying to increase your financial IQ and learn about money you should also pass that information on to your kids so they aren’t clueless. You’ll be able [...]

  67. Retire Wealthy by Increasing Your Knowledge of Money and Finance | Blyp Reviews - April 14th, 2007 at 11:33 pm

    [...] finance and investing is to help your kids learn about money and investing. If you are trying to increase your financial IQ and learn about money you should also pass that information on to your kids so they aren’t clueless. You’ll be able [...]

  68. Retire Wealthy by Increasing Your Knowledge of Money and Finance | Estudio 4D Media - April 17th, 2007 at 11:16 am

    [...] finance and investing is to help your kids learn about money and investing. If you are trying to increase your financial IQ and learn about money you should also pass that information on to your kids so they aren’t clueless. You’ll be able [...]


Leave a Reply




Featured Sites

Get Featured