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How to Raise a Money-Smart Kid

  • Set the example of a responsible money manager by paying bills on time, being a conscientious spender and an active saver. Children tend to emulate their parents’ personal financial habits.
  • Talk openly about money with your kids. Communicate your values and experiences with money. Encourage them to ask you questions, and be prepared to answer them – even the tough ones.
  • Explain the difference between needs and wants, the value of saving and budgeting and the consequences of not doing so.
  • Open a savings account for your children and take them with you to make deposits, so they can learn how to be hands-on in their money management.
  • Give your kids positive feedback. As they get older, give them responsibility over how they spend their money.

Stop by and bring your kid(s) to join the $um Buddy Kids Club today!

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