Money Management for Kids

My 17-year-old step-daughter Sam was so thrilled to get her very first paycheck the other day that she took a photograph of it for posterity. Her dad is very keen to teach her how to budget, and generally about money management; as she is living with us (and hopefully will stay a long time!) her expenses are low and it is an ideal time to help her set up a savings habit.

Kids can start learning to save much younger of course. A piggybank is a wonderful learning tool and I think every child should have one! Once they have saved up enough, why not take them down to the bank and show them how to open a bank account. Learning to be responsible about money at a young age will pay off big-time when your kids grow up.

Happy parenting,

Cassie