2008-10-01 18:09

5 Tips to get your child interest in money management

Make short term realistic goals for your child and make the goal something the child wants to attain.
Make envelopes for saving and spending. This gives them some spending money and the ability to save. When the money starts to grow the child will really get excited.
Decide with your child what percent they want to save and what percent they want to spend. Really listen to your child but guide them to make a responsible choice. This makes them feel in charge of this new project.
Make your finances available through family "money meetings." inform the child on your progress and your ability to pay bills and save. This will give them a sense of involvement in the family finances.
Be excited about talking about money with them. Many times it is because of our attitude towards money that we give our children the perception that it is boring.

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