Here is an example of my blog writing with a “soft” sale…
Top 4 Tips to Educate Your Kids About Money
By Candice Campbell
Financial education is a must-have… But yet only half our schools teach it
Why would only half our schools teach financial literacy? Our education system fails to give our kids a chance to learn about money. And this lack of financial literacy is hurting Americans…
- => Nearly half of Americans can’t cover a $400 emergency
- => Credit card debt is the highest its ever been
- => Half of hard-working Americans can’t retire
With these facts, I’m scared for my own kids. I want them to be financially successful when they grow up. They must learn about money! And unfortunately, it’s only up to us parents to teach them.
So, how can you educate your kids about money?
After much trial and error with my own boys, I finally found four tips to successfully teach financial literacy. So here we go…
Tip #1: Turn financial literacy into fun with board games… If you have time and your kids are bored… Then look into buying one or more of these board games to help educate your kids about money…
- => PayDay (Age 8+) is a board game that teaches your older children how to manage bills, buy property, and earn money. Of course, the player who gets the most money wins! My kids and I learned a lot from playing it, and everybody spent quality time together. But if you’re not into PayDay or tired of it, then there are plenty of other financial board games for the family…
- => CASHFLOW (Age 14+) is an investment and wealth-building game. The cool part about CASHFLOW is that a successful entrepreneur – Robert Kiyosaki – created the game. It’ll teach everybody about building financial wealth – including you!
- => Money Bags (Age 7+) will teach your kids how to recognize coins and learn to count them. They also learn about money values… And of course, the person with the most money wins the game.
- => The Game of Life (Age 8+) is a game that gives you career and vacation choices. You’ll also gain or lose money depending on the luck of your spinner. In the end, you’ll pay off debts, and whoever has the most money wins…
- => Monopoly (Age 8+) will teach your family how to get passive income from properties. And whoever is not bankrupt wins the game.
Besides board gaming… Be an example for your kids…
Tip #2: Show your kids how to manage money… Let them see how you manage your own finances. You don’t have to give them your debit or credit cards… But show your kids how you create a budget, make plans for the money, and pay off credit cards. Let your kids figure out a 3-month emergency fund for the family. And if you struggle with finances – take a financial literacy course here. After all, our kids learn best from us. And another great way to teach your kids is to let them manage their own money…
Tip #3: Let your kids manage their own money… Make them earn their money from doing their chores, getting a side gig, or a job… And deposit their money into their bank accounts. Your kids can even use kid-friendly credit cards to raise their credit scores. You can also encourage them to invest in bonds or even a Roth IRA. And lastly, some advice for the really busy parents…
Tip #4: Hook your older kids on a self-taught financial course… No time to teach your kids finances? That’s okay! We’ve tried so many different financial literacy programs… And my children agree that Budget Brainiacs is the best so far. Basically, you sign up for a membership, and your older kids (ages 10+) learn how to create a budget, open up bank accounts, juggle credit cards, and start a savings account. It’s so real… They even learn how to rent, get a job, and so on. My kids love earning points for real-life prizes at the Budget Brainiacs online store. They haven’t lost interest in the program for 4 months straight and learned to manage money. Of course, there are other self-taught courses, but Budget Brainiacs is my kids’ favorite…
So, I went over the four tips to educate your kids about money… And let’s go over everything again…
Tip #1) Play financial board games together
Tip #2) Show your kids how you manage family finances and learn financial literacy yourself
Tip #3) Let your kids earn and manage real-life money
Tip #4) Find an engaging self-taught financial literacy program for your older kids
I hope these four tips to educate your kids about money were helpful. I wish you the best since your kids are counting on you alone… Please leave a comment below and read my next article, ‘How to Save Over $10,000 By Next Year’.