Boosting Your Child's Financial Literacy

Boosting Your Child's Financial Literacy

• 1.
  BOOSTING YOUR CHILD'S FINANCIAL LITERACY VI C T O R N O T A R O | V I C T O R N O T A R O . C O M
• 2.
  START EARLY Children todayare much more perceptive than we often give them credit for so there is never a wrong time to start talking to them about money. Just talking to them about what items cost and where the money comes from can help them understand more complex money issues when they are older. 
• 3.
  START A BANK ACCOUNTFOR THEM Drop extra chains and dollar bills into a jar or depositing money into an account at a bank Starting a bank account early will help develop your children’s savings habits Choose an account at a bank that has a program that will teach your child about money
• 4.
  SET UP SAVINGS GOALS Digitaltransactions have made it harder to demonstrate how much an item costs which has made teaching a child to save money harder. Teaching a child how to save up for the item they want will help them build positive behaviors towards saving money. When they are looking to purchase a big ticket item, set up a savings goal so they can see what it takes to save money. 
• 5.
  Setting up apocket money system with your child will teach them how to be responsible with their money. This system allows the child to keep some of the money they earned through allowance while saving the rest of it.  IMPLEMENT POCKET MONEY SPENDING
• 6.
  PLAY MONEY THEMED GAMES Studieshave found that activities that show instead of telling how something works help children understand the concept better. Children want to have fun, so playing age- appropriate games like Pay Day, Cashflow for Kids or Monopoly Junior will help teach them about spending and saving money.
• 7.
  THANK YOU! For thefull article, visit VictorNotaro.com