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Kids' Money for Parents Saving Articles

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The Building of Wealth: A Financial Journey from Cradle to College, Part I - Saving by Richard Lyons Teaches saving as the first step in wealth creation. A Letter to Parents about the Power of Compounding, Part I - Saving by Katherine Bateman Tips on getting your kids into the savings habit. Have you heard of the Young Americans Bank? by Terri Friedline Research supports the importance of getting your kids in the habit of saving money. That's job one at Young Americans Bank. Article provided by The New America Foundation. The Importance of Saving by Rick Roman With problems come opportunities. Further motivation for parents. The Match Game by David McCurrach Help your kids reach their saving goals and reinforce the value of saving. An excerpt from Allowance Magic: Turn Your Kids Into Money Wizards © 2003 by David McCurrach Get in the Saving Habit by David McCurrach Now is the time to encourage your kids to save. Here's why. An excerpt from Allowance Magic: Turn Your Kids Into Money Wizards © 2003 by David McCurrach Teaching Kids Smart Spending and Saving Habits by Brenda Watson Newmann Spending and saving exercises parents can do with their kids. Saving and Spending from Money 101, Kids and money, CNNMoney.com Tips for parents on introducing the concept of saving and encouraging sound spending habits. Teaching Kids About Investing Their Savings by Barbara Weltman Show your kids how to take interest earnings to the next level with Certificates of Deposits and Money Market accounts. An excerpt from The Complete Idiot's Guide to Money-Smart Kids © 1999 by Barbara Weltman The Importance of Saving by Rick Roman In 1944, Americans saved over 25% of their income. This decreased to 10% in the 1970’s and to 1-2% by the 2000’s. We are a generation of SPENDERS and our kids are poised to surpass us in this bad habit if we as parents don’t take action! Here are three steps to get you started: Allowance Magic is a great way to help our kids get in the habit of saving a portion of everything they get. The next step is to teach them how to put their money to work. It’s not good enough to have money sitting in a piggy bank or a zero interest account. They need to learn about interest and the importance of compounding. It may sound basic but it is important to teach them how to shop around for the best interest rate. Even adults need help here. How many adults accept their local bank’s 0.2% interest rate when a quick comparison on Bankrate.com shows many online banks paying 6x more? Finally, it is critical that they start to understand the tradeoffs between the rate offered with the level of risk. All this sets the stage for expanding their knowledge into other investments vehicles like stocks which is covered in my article on investing. About Rick Roman Rick Roman has a B.S. Degree in Finance from Arizona State University and over 25 years of corporate finance experience in the high tech industry. In 2002, he founded www.GiveAshare.com to make it easy to give a share of stock as a gift and authored the I’m A Shareholder KIT to teach kids/teens about money and stock. Contents Kids' Money > Parents > Saving > Articles