It has often been said that a penny saved is a penny earned. This phrase has been passed down from generations. But sometimes it gets lost and not passed down from a parent to a child. But how do we teach our children to save? I learned from my frugal mom and from personal finance courses that I took in high school. Your child’s savings habits do not have to be this formal. However, I do believe that the education starts in the home. Do you discuss the bills with your children? Do you give them an allowance? Lastly, do they have a savings account? If not, start today. All of these habits are great ways to teach them about personal finance.
For more tips and suggestions, visit the For Youth Information (FYI) section of our website at: www.fcallc.biz/index.php/for-youth-information.html.
Follow us on Twitter.: http://twitter.com/1stCapAdvise