http://www.mmhabits.com/how-to-teach-kids-about-money-a-few-simple-steps-to-get-started/ To Achieve... To Succeeed... Thu, 09 Feb 2012 12:56:54 +0000 hourly 1 http://wordpress.org/?v=3.2.1 http://www.mmhabits.com/how-to-teach-kids-about-money-a-few-simple-steps-to-get-started/comment-page-1/#comment-9291 Adam @ Checkbook Diaries Wed, 18 Feb 2009 14:36:25 +0000 http://www.mmhabits.com/?p=811#comment-9291 Nice article. Child finance is of great interest to me and really what got me into more in depth personal finance analysis. Since we are expecting our first child, I have been putting together as much material as I can find to put together a program for teaching our children the value of money and how to be fiscally responsible. I think the MOST IMPORTANT step in teaching kids about money and fiscal responsibility is to teach by example. Live by the values that you are trying to instill in your children. Nice blog, keep up the good work. Nice article. Child finance is of great interest to me and really
what got me into more in depth personal finance analysis. Since we
are expecting our first child, I have been putting together as much
material as I can find to put together a program for teaching our
children the value of money and how to be fiscally responsible. I
think the MOST IMPORTANT step in teaching kids about money and
fiscal responsibility is to teach by example. Live by the values
that you are trying to instill in your children. Nice blog, keep up
the good work.

]]> http://www.mmhabits.com/how-to-teach-kids-about-money-a-few-simple-steps-to-get-started/comment-page-1/#comment-8335 the weakonomist Fri, 06 Feb 2009 16:25:02 +0000 http://www.mmhabits.com/?p=811#comment-8335 The trick is teaching kids the value of a dollar. They must do something to earn that dollar, so they understand what they lose by spending that dollar. When I have kids I plan to give them an allowance for doing chores, but it must either go towards a goal or be transferred to savings. I'll also give them the option of borrowing money from me, but having to pay it back plus (a hefty) interest. The trick is teaching kids the value of a dollar. They must do
something to earn that dollar, so they understand what they lose by
spending that dollar. When I have kids I plan to give them an
allowance for doing chores, but it must either go towards a goal or
be transferred to savings. I’ll also give them the option of
borrowing money from me, but having to pay it back plus (a hefty)
interest.

]]> http://www.mmhabits.com/how-to-teach-kids-about-money-a-few-simple-steps-to-get-started/comment-page-1/#comment-8334 Kathy Fri, 06 Feb 2009 16:02:04 +0000 http://www.mmhabits.com/?p=811#comment-8334 I would suggest starting an investment account in the Monetta Young Investor Fund. An Account can be opened for $100 with a $25 AIP...has a financial literacy component. I would suggest starting an investment account in the Monetta Young
Investor Fund. An Account can be opened for $100 with a $25
AIP…has a financial literacy component.

]]> http://www.mmhabits.com/how-to-teach-kids-about-money-a-few-simple-steps-to-get-started/comment-page-1/#comment-8301 Roman @ FinancialJesus.com Fri, 06 Feb 2009 05:59:48 +0000 http://www.mmhabits.com/?p=811#comment-8301 Great advice! I would also recommend playing the Cashflow game by Robert Kiyosaki. It's a bit expensive and it probably requires a certain age, but I am sure it can make wonders with the way your kids see the world. Great advice! I would also recommend playing the Cashflow game by
Robert Kiyosaki. It’s a bit expensive and it probably requires a
certain age, but I am sure it can make wonders with the way your
kids see the world.

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