For some, discussing money with their young kids can be difficult. For some people, their own financial uncertainties are a barrier to teaching their children about money. Others just may not realize the importance of teaching financial responsibility to children early. Fortunately, as a PEFCU member, you have access to a variety of tools that can help you teach your young child important lessons about money that will help them live their best life. Now is an ideal time to teach your school child valuable lessons about money. Here are some themes you can discuss: How to make a budget. Using their allowance, teach your child to budget. A simple budget includes three categories: Savings, Charity, and Spending. Explain to them the importance of “saving some, giving some, and spending some.” It might help to label three different jars for each category as a visual to help your child understand where their money goes each week.…
Teaching Your Child About Money
For some, discussing money with their young kids can be difficult. For some people, their own financial uncertainties are a barrier to teaching their children about money. Others just may not realize the importance of teaching financial responsibility to children early. Fortunately, as a PEFCU member, you have access to a variety of tools that can help you teach your young child important lessons about money that will help them live their best life. Now is an ideal time to teach your school child valuable lessons about money. Here are some themes you can discuss: How to make a budget. Using their allowance, teach your child to budget. A simple budget includes three categories: Savings, Charity, and Spending. Explain to them the importance of “saving some, giving some, and spending some.” It might help to label three different jars for each category as a visual to help your child understand where their money goes each week.…