My Recent Reading: The 5 Most Important Money Lessons To Teach Your Kids
Although my daughter is only 5 months old, I wonder what should I teach her about money in the future. When I was a student, (Ok, that was many years ago), but I really do not recall this was a topic being taught in school. Even though, I was clueless about this, good thing we all have a very resourceful friend named Google. I then asked Google, and Google referred me to an interesting article, “The 5 Most Important Money Lessons To Teach Your Kids” from Forbes.com.
This article was written by Laura Shin, according to her profile on Forbes.com, she’s a freelance writer who has published in the New York Times, The Wall Street Journal, The Los Angeles Times and others. In this article, she shared different ideas to teach your kids about money. Not only she introduced what should be taught to your kids in theory, she also suggested various activities where one could apply into practical usage. Below is a summary of the lessons to be taught to your kids at different age stages.
Ages 3-5: The Lesson: You may have to wait to buy something you want.
Ages 6-10: The Lesson: You need to make choices about how to spend money.
Ages 11-13: The Lesson: The sooner you save, the faster your money can grow from compound interest.
Ages 14-18: The Lesson: When comparing colleges, be sure to consider how much each school would cost.
Ages 18+: The Lesson: You should use a credit card only if you can pay the balance off in full each month.
To read the article, here’s the link. http://www.forbes.com/sites/laurashin/2013/10/15/the-5-most-important-money-lessons-to-teach-your-kids/
So what do you think about this article? and what will you teach your kids about money? Please leave a comment below!
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