Instilling good money habits in your children is arguably one of life's most important lessons. Fortunately, with today's technology, there are many ways to make learning about money fun for kids of all ages.
Teaching your kids about money should start as early as possible. "As soon as your child starts asking for things, I think it's time for them to understand that things cost money," says Anton Simunovic, founder of ThreeJars.com, a website dedicated to teaching kids about money management.
But what lessons should you start with? Neale Godfrey, author of Money Still Doesn't Grow on Trees: A Parent's Guide to Raising Financially Responsible Children, suggests beginning with the concept that money must be earned. "There's no entitlement program in life," she says. "Kids need to know that they can't just whine for a toy in a store and automatically get it."
As kids begin to learn about money, parents shouldn't feel intimidated. "The topic of money shouldn't be something that's taboo," says Jayne Pearl, author of Kids and Money Guide to Learning Capital. If you're uncomfortable talking about it, she says, it won't be an enjoyable experience for the kids.
You should also be careful not to argue about money in front of your kids. "If the parents are constantly arguing about money, their children are going to view money as a source of stress," says Jon Gallo, who coauthored the book The Financially Intelligent Parent with his wife, Eileen.
Starting to feel a little less anxious? Here are six more ideas for making money fun for kids:
By Daniel Bortz | U.S.News & World Report LP
Singapore's industrial production in August barely grew from a year earlier, as a slide in marine and offshore engineering output and a fall in pharmaceuticals production tempered the positive impact from an expansion in electronics output. … More »
Spot gold was down 0.3 percent to $1,332.88 an ounce by 0324 GMT. U.S. gold futures fell 0.3 percent to $1,337.60 an ounce. The U.S. presidential debate between Republican Donald Trump and Democrat Hillary Clinton will take place at 0100 GMT on … More »
New Delhi, Sep 26 (IANS) With a focus on tech-savvy consumers who need compact machines with on-the-go printing features, HP Inc. on Monday unveiled world's smallest 3700 all-in-one printer series which offers easy printing from a smartphone or … More »
One Thursday evening in March, Elvira Nabiullina, governor of Russia's central bank, faced down a rival in the struggle for influence inside President Vladimir Putin’s entourage. At a meeting chaired by Putin, Economy Minister Alexei Ulyukayev … More »
Lanxess's offer of $33.50 for each Chemtura share, represents a premium of about 19 percent to the Philadelphia-based company's close on Friday. The world's largest synthetic rubber maker will use existing funds and new debt to buy Chemtura in a … More »
Bank of Japan Governor Haruhiko Kuroda, in his first speech since the BOJ's decision last week to overhaul its radical stimulus programme, said the central bank stood ready to use every available tool to achieve its 2 percent inflation target. … More »
Crude prices rebounded on Monday after Algeria's energy minister said the day before that all options were possible for an oil output cut or freeze at this week's informal meeting of OPEC producers. Members of the Organization of the Petroleum … More »
Indian shares dropped about half a percent on Monday and were headed for their second straight fall, tracking weakness in Asian peers while investors shifted their focus from central banks to American politics. The first U.S. presidential debate … More »
Asian shares began the week under a cloud on Monday after losses on Wall Street, and as investors' attention turned from central banks to American politics ahead of the first U.S. presidential debate. Half of America's likely voters will rely on … More »
South Korean prosecutors have requested an arrest warrant for Lotte Group chairman Shin Dong-bin, the retail-to-chemicals group said on Monday, the latest twist in a broad criminal probe into the country's fifth-largest conglomerate. A prosecution … More »
Mutual fund investment has been gaining popularity over the past few years. The fact that these funds are managed by fund managers gives confidence to the novice investor. Investing in mutual funds will come with a basic risk associated with any … More »
Optimism about the outlook for Britain's financial services sector is at its lowest point since the financial crisis, a survey of finance firms showed on Monday. The latest survey of 115 financial services firms by business lobby CBI and … More »
Three-quarters of British company bosses are considering moving operations abroad following the vote to leave the European Union, according to a survey published on Monday. The KPMG survey of 100 UK chief executives, from companies with revenues … More »
Singapore's BandLab Technologies will buy 49 percent of Rolling Stone magazine from publisher Wenner Media and plans to expand the business into new markets and boost its profile in Asia, the two companies said in a statement. The acquisition could … More »
India, the world's third-largest emitter of greenhouse gases, will formally join the Paris agreement on climate change on October 2, Prime Minister Narendra Modi said on Sunday. The ratification by India, which follows that of the United States and … More »
New Delhi, Sep 25 (IANS) As the Make in India campaign launched by Prime Minister Narendra Modi completes two years, the government on Sunday announced that foreign direct investment (FDI) inflows into the country had recorded their highest level on … More »
Chinese billionaire Pony Ma Huateng, the founder of internet group Tencent, on Friday said his company would donate 2 percent of its annual profit to charity and flagged growth in the use of mobile internet in China's philanthropy sector. Ma's … More »
More than 20 European business associations and companies interviewed by Reuters say they back their governments' position that Britain's banking sector can only enjoy EU market access post-Brexit if the country still follows the bloc's rules. … More »
Mumbai, Sep 25 (IANS) Derivatives expiry, combined with the pace of foreign funds inflow and global crude oil prices, will guide the Indian equity markets during the week ahead. According to D.K. Aggarwal, Chairman and Managing Director, SMC … More »
New Delhi, Sep 25 (IANS) Even as tensions between India and Pakistan are at a high following last week's terror attack on the Indian army base in Uri, industry body Assocham said on Sunday that trade relations between countries remain "abysmally … More »
Two former Wells Fargo & Co employees have filed a class action in California seeking $2.6 billion or more for workers who tried to meet aggressive sales quotas without engaging in fraud and were later demoted, forced to resign or fired. The … More »
India signed a deal to buy 36 Rafale fighter jets from France on Friday for around $8.7 billion, the country's first major acquisition of combat planes in two decades and a boost for Prime Minister Narendra Modi's plan to rebuild an ageing fleet. … More »
Mumbai, Sep 24 (IANS) Positive global and domestic cues marginally lifted the Indian equity markets during the week ended Friday. However, gains were ceded due to volatility over global event risks, outflow ... … More »
Dalian Wanda Group, the Chinese entertainment giant owned by the country's richest man, opened the first phase of a sprawling 34 billion yuan ($5.1 billion) tourism park in the eastern city of Hefei on Saturday. Wanda is building similar projects … More »