by Lynne Finch | May 10, 2018 | Kids Allowances
A piggy bank teaches kids how to put cash in and take cash out. Piggy banks are cute and sometimes clever. However, piggy banks do not teach kids about real banks. Piggy banks are storage containers Today’s piggy banks provide new features claiming to make them more...
by Lynne Finch | Apr 21, 2018 | Kids Allowances
Parents often ask me, “When should I start giving my kids an allowance?” The answer is, “The best time to start a kid’s allowance is sooner than you think.” Kids know what money is before they know how it works Recently I overheard a young boy ask his mother...
by Lynne Finch | Jan 21, 2018 | Kids Allowances
Cambridge University agrees–children learn money skills before the age of seven. Because a young child sees what happens at the cash register. Seeing what money does happens long before knowing how money works. Parents are the most effective teachers in the early...
by Lynne Finch | Jan 19, 2018 | Kids Allowances
It’s time to teach our kids to learn to manage money as a number. All you need is a pencil and paper. You pay your kids’ allowance as a number. The kids keep track in their account. The one rule is this: every money transaction is recorded as a number....
by Lynne Finch | Jan 10, 2018 | Kids Allowances
Looked at your transaction register (AKA check register) lately? They come complete with a list of codes for a variety of cashless transactions: DC, ATM, AD, AP, BP, and T. Hmm, can parents use this concept to teach their kids about money management? Track allowance...
by Lynne Finch | Apr 24, 2013 | Kids Allowances
Piggy banks are not financially literate. They are a fun part of childhood. Unfortunately, piggy banks fail at teaching money management to kids. Our kids are growing up in a world that uses increasing amounts of money that we can’t see or touch. We spend and receive...
