Comments on: Teaching Kids about Money

By: Walter Edelstein

Walter Edelstein — Wed, 11 Mar 2009 22:39:34 +0000

Teaching kids about money should start when they are very young. See my article about ten things your seven year old should know about money.

By: sammy

sammy — Wed, 04 Feb 2009 06:15:28 +0000

Great info. A good article posted on MSN: “What kids need to know about money.”

Sammy Rabbit
http://www.itsahabit.com
http://www.sammyrabbitblog.com
Changing lives one dime and habit at a time!

By: sammy

sammy — Sun, 25 Jan 2009 05:38:12 +0000

1. Absolutely, the more that can be done to help parents be good role models the better. Most kids I know learn from a variety of sources, but parents are generally the primary one.
2. Basics seem like a good place to start, particularly if you want to build something that lasts. However, I’m not sure banks are uniquely qualified to fill the nation’s and families financial education needs and that they have the experience and expertise to do so. Certainly, some do.
3. It’s exciting to see the energy and enthusiasm for this topic.
sammy
http://www.itsahabit.com
http://www.sammyrabbitblog.com

By: Eileen

Eileen — Sun, 25 Jan 2009 02:14:23 +0000

Mutimedia tools are great. Speaking as a parent, good quality educational tools are helpful. Reinforcing the message in multiple channels (e.g., home, school, TV) makes sense as well. However, in the end, children learn from watching their parents. Do their parents save for college or for a rainy day? Do they buy on impulse without consideration for the funds available? Do parents teach their children the value of self restraint or are all needs indulged?

So, a first step is to help parents model sound behavior … a lot harder than building flashy multimedia tools.

By: Herve

Herve — Sat, 24 Jan 2009 19:30:43 +0000

It will take a village. And it will need to be continual. Like most other subjects, it will have to start with the basics. The fundamentals. And build from there. And be reinforced at many different points.

Banks are uniquely qualified to fill this educational need. They have the experience and the expertise. There are several challenges. Banks’ focus has been sales driven for “free” advice, and expensive fee-based for all other advice. This meant the advice could not be trusted as being beneficial to the consumer. Or that the folks who really needed it could not afford it. Or both. Add to that the lack of trust and fear consumers have in the system and those employed by it.

The time to act in filling this need is now. Consumers are open to learning how they can help make anything better. Everything better. There is no better opportunity than now.

I too look forward to being a part of the solution.

By: sammy

sammy — Sat, 24 Jan 2009 16:26:43 +0000

i think parents should teach children to save money and build from there. start young. and yes, use multi media platforms. we use music and a child’s character named sammy rabbit and have good success not only connecting with kids, but parents as well. keep up the great work! we need more people advocating smart money habits and skills.
sammy
http://www.itsahabit.com
http://www.sammyrabbitblog.com