June 26th, 2017

Financial Ed for Kids

Things Kids Should Know About Money

Most adults will admit they’ve made a few money-related mistakes along the way.  The best way to help your kids avoid some of those mistakes is to begin teaching them about money as early as possible.  Here are a few  things your kids should understand by the time they reach...

Save, Share, Spend.

Kids who are just starting their financial education journey can benefit from learning the “save, share and spend” method of budgeting. First, whether it’s from allowance, holiday, birthday or graduation gifts, babysitting or other ways kids may receive or earn money, have your child set aside a certain amount or...

A teen’s first checking account.

Is your teenager getting a first job this summer?  Or maybe he or she just received graduation gifts of money or has an allowance.  One of the best ways to help teens learn to manage their money is by opening a checking account for them.  We all know from our...

Set savings goals with your child.

Almost all of us will push ourselves more if we set goals.  That is definitely true of savings.  No matter what age we are, it is easier to save for something specific than to simply save for “a rainy day.”   Help your child start thinking about savings goals early.  ...

Tips for raising a saver.

This great article from Forbes provides some excellent tips for getting your children off on the right foot with savings – and then keeping them on track all the way through their teens.   Starting as early as age 3 with pennies in a jar and advancing through understanding “not having...

Teaching your child the basics

More often than not, we assume that children know that you must earn money to have money to spend.  We also assume they know what “earn” means.  Start early with the basics.  Explain why you go to work everyday and that this is how you make the money needed to...

Financial literacy shared responsibility

This article from Reuters does a great job of reinforcing the value of financial literacy for our children.  At Cornerstone, we’ve been involved with Jump $tart – a coalition of financial institutions and advocates for financial literacy – in supporting the requirement that makes Tennessee one of the 12 states...

Teach your children well.

Here are a few concepts that can teach your children to have a healthy respect for money: 1)  Saving for a rainy day is important.  When we spend everything we get as soon as we get it, we aren’t prepared to handle the surprises – or even opportunities – that...

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