Teenage boys and girls reaching for falling moneyFrom time to time, I like to eat only foods that are orange. It was something I started in college. I know it sounds odd, but this just happens to be my only odd habit. The rest of the time, I am completely normal. Recently it was orange food day for me, so I was at the grocery store buying my cheese doodles, orange soda, boxed macaroni and cheese, and carrots. As I was waiting in line, there was a mother in front of me with her
little girl and she was teaching her daughter how to make a purchase. It brought memories back to me of my own mom
doing the same with me.

I am sure everyone has a recollection of learning about money: how to estimate how much money is needed for a purchase; figuring out what change you should get back; and how to save for that coveted action figure, comic book, or, in my case, an “Easy-Bake Oven”. Who doesn’t remember having a piggy bank or a jar for saving money for those “I have to have it, or I will simply die” moments of our youth?

Kids today have more money than ever to spend on snacks, clothing, and games/toys. One website that I visited states that more than 10 million–40 percent of the Nation’s children and youths between ages 10 and 18–receive regular allowances or handouts from their parents or guardians, averaging $50 per week. I found that statistic surprising. As a kid, I considered myself lucky when my parents raised my allowance to a dollar. With that kind of cash in the hands of kids today, it is even more important that they learn from a young age how to handle
money.

Here are some great resources to help parents get their kids started on the right foot when it
comes to good financial habits:

How are you teaching your kids about being financially responsible?

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