Learning About Money

I believe that learning about money is a requirement for our kids to grow up to have money.

As parents, we want the best for our kids. We want them to be healthy and happy and smart. But we also want them to be financially free and independent, in control of their finances and not the other way around.

So how best do we go about teaching kids about money? Well, it's like anything else. The values we instill in our children are the values we discuss with them and the values they see us living day in and day out.

This Learning About Money section is your parenting resource for raising financially successful children.

From toddlers to teens, these are some of the topics that all kids need to know as part of their financial education (and more to be added in the coming days).

Financially Insightful vs Financially Literate

The topics explored below are not simply a collection of trivial information in the personal finance realm. This is not about passing some theoretical basic literarcy test so that they can meet the minimum requirements of survival as adults.

This site is a little different. It's not about raising financially literate kids - it's about raising financially insightful kids.

There's a huge difference. Life isn't a TV game show like Jeopardy. It's not enough to have basic knowledge of finances and financial instruments. That part is the What.

What's more important than the What is the Why. In fact, without the Why the What is merely trivia.

Who cares if a child or teen can parrot boring definitions or list the differences between a savings account and a checking account? That's not what teaching kids about money is about. The world is full of people who "know" things without being smart about those things.

So the pages in this section provides both - the definitions of fundamental financial instruments, tools, and concepts as well as explaining why those instruments, tools, and concepts are important.

Learning About Money Topics

Note: This is a relatively new section - and new pages are added regularly. Please bookmark and return regularly.

What is a Bank?

What is a Savings Account?

What is a CD?

What is a Checking Account?

What is a Stock?

What is a Bond?

What is Compound Interest?

Teaching Kids About Making Money

Why is Customer Service Important?

Incorporating Financial Lessons - Teaching kids about money and finances in everyday situations.

Are You Really Saving Money? - Dumb Ways to Save Money. Are you guilty of any of these?

Cartoons About Money - Teaching Kids About Money With Comic Books and Cartoons

Illegal Money Habits - Are you teaching any of these illegal money habits to your children?

Family Budgets in 15 Minutes? - Check out this cool video clip from WalletPop and learn a simple approach to budgeting that you can also pass on to your teen.

Unnecessary Expenses in Family Budget - Are you guilty of these budget busting no-nos?

Child Credit Report and Child Identity Theft - Are you protecting your child from identity theft? Did you even know this was something you had to even worry about? Learn more about the need to monitor your child's credit reports and how to do so for free.

Smart Spending - 3 Steps to Improving Your Family's Financial Life - Want 3 easy steps to improving your family's financial life? Get these broad areas of your life right, and you and your kids will be miles ahead of the game.

What to Teach Kids About Money - What do your kids still need to learn about money and finances? Find resources and asnwers here.