Category Archives: Dating, Relationships & Family

When it comes to money matters, many grown-ups are afraid to ask questions. Others are paralyzed by the fear of making mistakes. But we might prevent our children from falling into the same trap if we help them develop a healthy attitude toward asking questions about money, making decisions and correcting mistakes. Here are some suggestions on how to teach children about money:

1) Let your children listen in on problem-solving conversations related to money matters. Knowing that a grown-up asks questions about interest rates at the local bank or corrects errors on a phone bill or broker’s statement will give children encouragement to seek answers. It also demonstrates that it is OK to admit (by asking questions) that you don’t understand something.

2) Begin to familiarize your children with financial jargon such as interest, dividends, gains, losses, stocks, bonds, mutual funds, savings accounts, etc. Not knowing the meaning of financial words can be inhibiting to anyone, regardless of age. Go slowly – too much too soon can be overwhelming. (But too little too late can be just as much of a problem.)

3) Make it a weekly family project to look up one or two stocks in the newspaper…. Continue reading