Friday, June 01, 2007

Teaching money values to kids

One of the sayings that my mom use to say "money doesn't grow on trees" is coming out of my mouth more and more these days. My 8 year old is starting getting it. However I still hear Give me money for this and that. We do an allowance and bribery for being good at school (he is very hyperactive and money motivates him)

I don't feel kids learn enough about the value of money at school I really think that mandatory for high school graduation should be a personal finance class. Parents of course should teach the values, but many adults are money messes themselves.

I got excited when I saw this program geared towards middle schoolers that was in the Yakima Herald
"You need to save money or you won't be able to get what you want," said Rebecca Horn, a sixth-grader at the school.

That's one message the 12-year-old Horn took away from the program titled "Mad About Money," sponsored by the state Department of Financial Institutions.

During each of the 45-minute presentations -- one for each grade level -- two actors with the National Theatre for Children played various characters in comedic yet educational sketches that emphasized determining needs and wants, noting the difference between cash and credit, and stressing the importance of saving and investing for the long term.

Some simple tips that they shared:

"Don't spend more than you bring in,"

"Only borrow what you can pay back tomorrow,"

Good advice for the young or old regarding money

No comments: