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Teaching Kids About Money

Teaching Kids About Money. A Financial Literacy Presentation by Member Name, CPA. Money Basics. Adults in trouble today because they didn’t learn lessons earlier in life Not learning it in school Must know about budgeting, credit, saving Hands-on activities for kids. Start Out Young.

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Teaching Kids About Money

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  1. Teaching Kids About Money A Financial Literacy Presentation by Member Name, CPA

  2. Money Basics • Adults in trouble today because they didn’t learn lessons earlier in life • Not learning it in school • Must know about budgeting, credit, saving • Hands-on activities for kids

  3. Start Out Young • Never too early • Toddlers – money recognition, spending, saving • Show coins and explain value • Piggy banks • Pretend grocery shopping

  4. Elementary School • Budgeting, goal-setting, borrowing money • Weekly allowance, if possible • 80-10-10 rule • First savings account • Credit cards • ATM machines

  5. Middle School/Jr. High • Learn how to make money • Extra chores for extra money • Use pre-paid credit card to teach them about interest and using credit wisely

  6. Stock Market • Investing vs. saving • Set up mock portfolio • Invest in what you know. • Research companies online/financial pages • Two options for entering stock market: • Buy mutual fund. • Open stock account for child.

  7. High School • Should know how to earn, save and spend money responsibly • Checking account • Be able to balance it • Know how to use credit cards wisely • Reading a paycheck • Involve teens in bill-paying

  8. Birthdays/Special Occasions • Give money-minded gifts • Books, board games, videos, software • Play ATM machines • Pretend checkbooks • Voice-activated/keypad safes • Money bingo • Give U.S. savings bonds

  9. Any Questions?

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