Teach your kids how to be smart with money
2 years ago

Teach your kids how to be smart with money

Live Mint  

A few years ago, I sat down with my friends to play a board game called Cashflow, based on the famous book Rich Dad, Poor Dad, by Robert T. Kiyosaki and Sharon Lechter. Look for the right resources Recently, BrightCHAMPS, an ed-tech platform that provides programs in coding, financial literacy, and robotics to K12 students, released a graphic novel, Money Lessons, which uses fun and exciting ways to teach kids about money. Meant for the 6-16 years age group, the book and the app build a child’s conceptual understanding of money and also give them opportunities to test out these learnings through games. Bhavishya Chaurasiya, co-founder, FinCHAMPS by BrightCHAMPS, believes that structured, well-researched and age-appropriate money management programs are important to build financial skills among children and teenagers. When I played Cashflow, I realised that I never even took calculated risks while my other players tested multiple scenarios, a process of trial and error that is equally important to understand money and grab hold of the right opportunity.

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History of this topic

Empower your children by fostering financial wisdom early
1 month, 1 week ago

Empower your children by fostering financial wisdom early

Live Mint  

When preparing children for life, financial literacy is often neglected, though it plays a crucial role in shaping their future success and well-being. Financial Psychologists Brad Klontz and Ted Klontz, in their study 'Mind Over Money,' identified four common money scripts: money avoidance, money worship, money status, and money vigilance. Nurturing financial independence: Steps for parents Empowering children with financial …

Raising Financially Savvy Kids: The Essential Guide for Parents
2 months, 4 weeks ago

Raising Financially Savvy Kids: The Essential Guide for Parents

Live Mint  

It is that time of the year when you start budgeting and declare investments for official purposes. Compounding of money helps as time passes by," explains Kothari Desai, who is also the driving force behind DSP Asset Managers, which educates women on the need to gain financial knowledge and security. Having these conversations early makes for informed adults later on, …

Millennial Money: How to set good money examples for kids
1 year, 4 months ago

Millennial Money: How to set good money examples for kids

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. From a surprisingly early age, …

The 1 Thing Financial Experts Say You Should Teach Your Kids Early
1 year, 6 months ago

The 1 Thing Financial Experts Say You Should Teach Your Kids Early

Huff Post  

Whether you give your children an allowance, allow them to earn money by completing household chores, pass along cash gifts from relatives or encourage small-stakes entrepreneurship like a lemonade stand, your kids are already practicing some money management. To teach this to her own children, Sokunbi lets them “make their own little money mistakes with the money I give them.” …

Here's how financial literacy can help your child succeed in future
2 years, 1 month ago

Here's how financial literacy can help your child succeed in future

India Today  

Financial literacy is a critical life skill that can have a significant impact on an individual's financial well-being. By teaching them about personal finance at a young age, we can help them develop the skills they need to make smart financial decisions. BUILDING SELF-CONFIDENCE By managing their own money, making smart financial decisions, setting financial goals, and working towards achieving …

5 Effective Methods That Will Help You Teach The Value Of Money To Children
2 years, 4 months ago

5 Effective Methods That Will Help You Teach The Value Of Money To Children

News 18  

Every parent loves their child and can go to great lengths to meet their needs. If you want your children to value money, then you can teach them money management from an early age. Give them small household responsibilities: To teach children money management, start giving them small household responsibilities at a young age. Discuss the importance of money: Telling …

5 ways to teach financial literacy to your child
2 years, 5 months ago

5 ways to teach financial literacy to your child

Live Mint  

As parents, you obviously want the best for your child and there is nothing that can be done than teaching your child about managing money and inhibiting good financial habits. If you teach your children how to save money for future purchases, they will be able to spend some time on thinking about what they are saving for and is …

Why children need a financial literacy curriculum right from school
2 years, 5 months ago

Why children need a financial literacy curriculum right from school

India Today  

At some point in our life, many of us have faced a difficult situation related to money and had to rely on someone to guide us to make the right decision. WHY FINANCIAL LITERACY NEEDS TO BE INTRODUCED AT SCHOOL In this volatile economic condition, it is strongly suggested that we sensitise our children about the value of money and …

8 smart ways for tweens and teens to earn their own money
2 years, 9 months ago

8 smart ways for tweens and teens to earn their own money

The Independent  

Sign up to our free Living Well email for advice on living a happier, healthier and longer life Live your life healthier and happier with our free weekly Living Well newsletter Live your life healthier and happier with our free weekly Living Well newsletter SIGN UP I would like to be emailed about offers, events and updates from The Independent. …

Parents can do a better job of teaching children about money, scams
2 years, 11 months ago

Parents can do a better job of teaching children about money, scams

NL Times  

Although almost all parents find it important that their children are able to handle money well, many parents can do even more to address the issue, concluded de Volksbank. The majority of parents do not make agreements with their children about how much pocket money they should save, according to the research. De Volksbank conducted a survey at the beginning …

12 Money Mistakes You're Teaching Your Kids
4 years, 2 months ago

12 Money Mistakes You're Teaching Your Kids

Huff Post  

MoMo Productions via Getty Images Parents can have a big impact on their children's relationship with money. “When you don’t talk about money in your own household because you don’t want your kids to worry or because you don’t think it’s important that they are involved, you’re teaching your kids not to talk about money, and you restrict the opportunity …

Tips to teach children about financial planning
4 years, 3 months ago

Tips to teach children about financial planning

India Today  

In the age of digitization, kids are certainly aware of terms such as online payment, credit card, or debit card. If children do not learn valuable money lessons including the importance of budgeting and saving, they may struggle to manage their finances later in their lives. Discussing financial health matters Start by communicating with your kids about simple money topics …

How four money experts teach teens about money
5 years, 6 months ago

How four money experts teach teens about money

ABC  

Ah, the teenage years. We spoke to four parents who have considerable expertise in the area: ASIC senior executive Laura Higgins, ATO assistant commissioner Kath Anderson, and finance journalists Alan Kohler and David Koch. Pocket money tips Photo shows A boy wears sunglasses that reflect an image of one dollar coins for a story about giving kids pocket money. Kath …

Teaching your kids about personal finance in the age of digital money
5 years, 7 months ago

Teaching your kids about personal finance in the age of digital money

ABC  

In 2019, learning about money means mastering tap-and-go payments, online shopping, in-game app purchases, mobile phone bills… none of which involves cash actually changing hands. Here's how to get started with teaching today's kids — sometimes called "the invisible money generation" — financial literacy. To help your child understand that digital money is "real" money, Mr De Gori suggests their …

The key to teaching your teen about budgeting and money management
5 years, 10 months ago

The key to teaching your teen about budgeting and money management

ABC  

When their piggy bank has long since been smashed open, and they're more into real cars than toy cars, it's probably time to up the ante on money education with your kids. "There might not be much money to go around, but even just sharing a little bit with the children can give them a sense of participating in the …

4 fun board games to play with your children to teach them about money management
6 years, 4 months ago

4 fun board games to play with your children to teach them about money management

Live Mint  

Most of us would have been introduced to a piggy bank as children to learn the importance of savings, perhaps the only way a whole generation of parents used to impart money lessons to their children. Monopoly Price: ₹ 599 onwards Availability: Funskool, Amazon, Flipkart, Hamleys Suitable for: 8 years and above This is one of the most popular board …

How To Actually Teach Your Kid The Value Of Money
6 years, 6 months ago

How To Actually Teach Your Kid The Value Of Money

Huff Post  

Sawitree Pamee / EyeEm via Getty Images It's important to teach kids the concept of money early on. “Then, you can move on to more abstract concepts, but cash is a foundation.” If you’re uncomfortable letting your kids have actual money, get creative. “We’ve made money into a foreign language,” Van Court said. “401 and 529, those are tax code …

Financial literacy: How to teach your kids to think more critically about money
7 years, 5 months ago

Financial literacy: How to teach your kids to think more critically about money

ABC  

Advice on money often boils down to simplistic messages about budgeting, understanding compound interest and avoiding debt. It's time for a shift from teaching children rote-learned financial rules of thumb to instilling dispositions and a thinking process that underlies good financial decision-making. This means that simply discussing money can help children build financial independence by practising making decisions. In fact, …

Teaching kids dollar smarts means parents must take the lead, Brisbane expert warns
7 years, 7 months ago

Teaching kids dollar smarts means parents must take the lead, Brisbane expert warns

ABC  

Parents need to lead by example in teaching their children financial literacy, according to a Brisbane academic. Griffith University senior lecturer in financial planning Dr Rakesh Gupta has compiled a list of five tips to help children grow into financially responsible adults. Dr Gupta, a father of two, said children needed to be introduced to the topic of financial literacy …

How to teach your kids about money
7 years, 9 months ago

How to teach your kids about money

The Independent  

Sign up to our free money newsletter for investment analysis and expert advice to help you build wealth Sign up to our free money email for help building your wealth Sign up to our free money email for help building your wealth SIGN UP I would like to be emailed about offers, events and updates from The Independent. Delayed gratification …

It can be all about fun and games
9 years, 1 month ago

It can be all about fun and games

Live Mint  

Importance of money and its management is something that children can understand at an early age. So, it is important to teach children the way money works,” said Abha Adams, owner of Abha Adams School Development Consultants, a Delhi-based education consultancy. Parents can use specially designed apps and games to help teach children important money lessons. “We developed Slonkit to …

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