S A U N A I E4 Nov 2022

Kids & Money

S E G M E N T S: Teaching Kids about Money

Between the Ages 4 & 7

- Teaching your kids how to count bills & coins. ( Monopoly, or playing store at home )

- Allowing them to pay at grocery stores.

- Teach them about Chores & an allowance

- Don't argue about Money

Between Ages 8 & 12

- Teaching them about Saving for Something they want to buy & the significance of saving

- Open a bank Account & teaching them about the checking & savings acct.

- Allocate Allowance towards savings.

- Creating a budget for the Groceries

Between Ages 13 & 15

- This is where you educate your kids on Budgeting, Income & Expenses

- Understand costs of Buying a Car

- Understanding their Financial Wants & Needs

- Teaching them about using a Debit & Credit Card

Between Ages 16 & 18

- Teaching them about the ROI of College

- Store Valued Cards

- Basics of Investing & Different Financial Accounts

- Household Expenses for Living on Their Own

- Educating them about Business & side hustles

Bonus content:

Ages: 2 - 3: You can teach your kids about each coin. You can give them play money to "play store" & have them buy their own cereal or toy.

Ages 4 - 5: Let your kids help you cut out coupons & when you go to the store they can help you find the items.

- This is a fun way for your children to feel like they're helping while learning about Saving.

Ages 6 - 7: Kids like Collecting, maybe spark their interest in Coin Collecting. If you give kids an allowance, teach them about what it means to do a chore & earn money.

Ages 8 - 12: Open a bank account for your kid & encourage them to start saving & what that means. Teach them about Comparison Shopping.

For example: Buying Toilet Paper from Costco vs other Grocery stores

Ages: 13 - 15: Help your kids set a family budget with you & learn wants vs needs. This wouldbe great time to teach them budgeting & how to buy a car with cash vs what Financing would cost & why not to finance a brand new car.

Ages 16 - 18: Perfect time to get your kids interested in the Stock Market. Teach them the costs of college & if their career choice will pay for the lifestyle they want.

O u t r o: Positivity is a 2 way street. The more Positive thoughts you put out, the more postive energy will flow back.

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