Finance Blog
Saving Money: Teaching Children the Value of Money
Most of us want our children to grow up to be responsible with money. Financial literacy is an important part of successful money management—if you start teaching your children basic lessons while they are young, they will have a firm financial foundation to build upon in the future. When brought up to know the value of money, children are more likely to exercise caution in their future dealings and be better at saving money.
Teaching basic money management concepts
Kids are visual learners, and it helps if they have something tangible to use when learning about money. Before my son actually began receiving an allowance, we had a system that allowed him to earn coupons that could be redeemed for TV time. Each DVD was labeled with a number indicating how many coupons each episode or movie required (single short episodes of a TV show cost only one coupon, while the longest movies cost four). He quickly learned that he could watch his favorite movie if he saved up his coupons for two or three days.
Basic systems like this translate quickly into an understanding of money handling. When we introduced an allowance, my son made the...
Saving Money: Teaching Children the Value of Money
Written by Miranda Marquit on May 7, 2012
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Most of us want our children to grow up to be responsible with money. Financial literacy is an important part of successful money management—if you start teaching your children basic lessons while they are young, they will have a firm financial foundation to build upon…
Review: Equifax Complete™ Family Plan
Written by Miranda Marquit on April 23, 2012
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One of the latest products launched by Equifax is the Equifax Complete™ Family Plan, which monitors the credit report for all the members of your family. (Disclosure: I was provided with a code that allows me access to the Family Plan — which costs $29.95…
Saving Money while Traveling with your Family
Written by Teri Cettina on April 13, 2012
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At first glance, the terms “travel” and “frugal” might not seem like they belong in the same sentence. If you’re tight with money, how could you possibly justify travel? You should be saving money! In our family, and in many other families, it’s all about…
Spending Fast Can Help You Achieve Financial Health
Written by Eve Becker on March 23, 2012
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Have you ever reached that point in a diet when you’re eating all the right things and getting regular exercise, but your weight loss plateaus anyway? Changing up the way you think about your eating habits and trying something new can jumpstart your weight loss….
Great Mobile Apps to Help You Manage Your Finances
Written by Ilyce Glink on March 21, 2012
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Gone are the days of paper ledgers and tallying up your cancelled checks. With smartphones, people are emailing, making dinner reservations, destroying angry birds, and impressing friends with their words. Now, with advancing technology and increased security for mobile apps, smartphone users are also managing…
Are Prepaid Debit Cards Good Money Management Tools?
Written by Miranda Marquit on March 5, 2012
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Prepaid debit cards are popular with some parents because such cards provide the experience of paying with plastic without actually borrowing money and without the chance of overdrafting. Prepaid debit cards are touted as valuable aids in teaching teenagers about money management. However, the recent…
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