Resources & Links
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9 Tips for Teaching Kids About MoneyHow do you foster financial independence and financial literacy among young people? Two Schwab experts share their tips.
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Credit Card Facts: Tips for TeensFast facts you need to know.
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Teaching Children About Money Now, Pays Dividends LaterManaging money isn’t easy. Waiting to learn about handling money until you are on your own as an adult makes it even more challenging. Teaching kids about money early on will help them to become more financially independent as they get older. Financial education has been linked to lower debt levels, higher savings, and higher credit scores as children mature into adulthood. Later on in life, that financial education is also positively connected to net worth and investing.
Streaming Media
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Real Life Teens: Teens and MoneyWhen teens earn money, they often spend it without thinking. This program discusses the trouble teens can have in making mature decisions about money and explains how to be more responsible with personal finances. Subjects covered include how money affects a young person; what the difference is between cash and credit; the negative aspects of credit; the importance of financial responsibility; getting advice about money; and jobs. A viewable/printable instructor’s guide is available online. (20 minutes)
Teaching Resources
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MoneySense for Parents - Get Money SavvyHelp your children towards a better financial future with these fun activities, games and videos for all ages.
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Thinking Money for KidsWith free resources from ALA and the FINRA Investor Education Foundation, libraries can teach children and their parents, caregivers, and educators about financial topics — like saving, spending, sharing, and budgeting — in a way that is both meaningful and fun.
Perspectives
Smart Money Smart Kids
In Smart Money Smart Kids, Dave Ramsey and his daughter, Rachel Cruze, team up to share some personal family stories you don't want to miss! Get a no-nonsense approach for teaching your kids and teens the basics of money. Find practical strategies to raise money-smart kids in this debt-crazed world. Smart Money Smart Kids offers common-sense ways to teach these money lessons: Where money comes from The value of hard work How to save, spend, and give Debt, and how to avoid it Paying cash for college Living responsibly
The Opposite of Spoiled: Raising Kids Who are Grounded, Generous, and Smart About Money
New York Times Bestseller "We all want to raise children with good values--children who are the opposite of spoiled--yet we often neglect to talk to our children about money. . . . From handling the tooth fairy, to tips on allowance, chores, charity, checking accounts, and part-time jobs, this engaging and important book is a must-read for parents." -- Gretchen Rubin, author of The Happiness Project In the spirit of Wendy Mogel's The Blessing of a Skinned Knee and Po Bronson and Ashley Merryman's Nurture Shock, New York Times "Your Money" columnist Ron Lieber delivers a taboo-shattering manifesto that explains how talking openly to children about money can help parents raise modest, patient, grounded young adults who are financially wise beyond their years. For Ron Lieber, a personal finance columnist and father, good parenting means talking about money with our kids. Children are hyper-aware of money, and they have scores of questions about its nuances. But when parents shy away from the topic, they lose a tremendous opportunity--not just to model the basic financial behaviors that are increasingly important for young adults but also to imprint lessons about what the family truly values. Written in a warm, accessible voice, grounded in real-world experience and stories from families with a range of incomes, The Opposite of Spoiled is both a practical guidebook and a values-based philosophy. The foundation of the book is a detailed blueprint for the best ways to handle the basics: the tooth fairy, allowance, chores, charity, saving, birthdays, holidays, cell phones, checking accounts, clothing, cars, part-time jobs, and college tuition. It identifies a set of traits and virtues that embody the opposite of spoiled, and shares how to embrace the topic of money to help parents raise kids who are more generous and less materialistic. But The Opposite of Spoiled is also a promise to our kids that we will make them better with money than we are. It is for all of the parents who know that honest conversations about money with their curious children can help them become more patient and prudent, but who don't know how and when to start.
Banking on Our Future: A Program for Teaching You and Your Kids About Money
'We believe that through economic empowerment, you give people choices in their lives.' John Bryant grew up in South Central Los Angeles, and while he's founded his own group of companies and been named one of Time's "50 Most Promising Leaders of the Future," he knows what it means to struggle financially. Now, as founder and chairman of Operation HOPE, Bryant focuses on educating young people about money. His Banking on Our Future program has already reached 87,000 students in over 350 schools nationwide, and the number is climbing. Now you too can have access to the lessons of the award-winning Banking on Our Future program. Here are some of the important things you will learn from this book: * How to talk with your kids about money * How to keep track of your family's money with a family financial ledger * How to teach your ten-year-old about banks and have fun at the same time * Why saving, even a little money every week week, is so important * When it's the right time for your teen to have a checking account * How to set financial goals with your kids, whether they're six or sixteen * Credit, budgeting, investing, car payments, and more Banking on Our Future is the financial primer you and your family can't afford to be without. Clear, frank, and always inspiring, this book will help you and your children plan a healthier and happier financial future.