The Tutoring Center, Plano TX

BLOG

08/14/2015

Ways to Teach Your Child About Money

Unfortunately our schools do not teach financial literacy to children, so the burden is on us as parents. Here are some tips for helping your child learn about money.

Saving

Most Americans will not save enough for retirement. Teach your child the importance of saving early. Have them set aside a portion of their allowance and gift money and put it into a savings or investment account. If they form a habit of putting aside 10% or 20% of their money, it will become second nature by the time they start working. And that money will pile up fast.

Fulfilling Dreams

Talk to your child about their dreams and inspirations, and tell them how money will play a part in making them happen. Explain the importance of earning, saving, managing, and growing their money so that they can have the life they want.

Building Skills

Help your child learn about time and risk management, marketing, ethics, organization, and communication. Build upon your child's strengths. Learning about personal finances is not enough.

Stay Positive

Financial difficulties are tough, but they are opportunities to teach your children about money. Perhaps you did not have the financial education that you needed to make the right decisions. Explain these to your child in a positive way. Avoid being negative, which could serve as a discouragement.

Accounts

Open checking and savings accounts for your child to manage while in their teenage years. Make sure to monitor them so there are no overdrafts. Keep their credit strong and their banking experience positive.

For Tutoring in Plano, TX

If you are looking for one-to-one tutoring programs, contact The Tutoring Center in Plano. Give us a call at 469-277-8177 to schedule a free diagnostic assessment today.  

FREE CONSULTATION

Schedule your Free Diagnostic Assessment Today!
SCHEDULE ASSESSMENT!
Learn more about 
THE TUTORING CENTER
on the national website: