| Many children find themselves hopelessly in | | | | -The internet has a wealth of knowledge for |
| debt after leaving home. They go off to | | | | parents to utilize. There are online games, |
| college, wanting to take on the world. The | | | | puzzles and children's websites that teach |
| independence they suddenly experience leads | | | | money skills. |
| to decisions that are not always best for | | | | |
| them. Many of them have not had to deal with | | | | - Books are another resource for parents. |
| financial responsibilities. They are lured | | | | Check the children's section of the library |
| into credit card and loan offers, finding | | | | or book store for basic children's money |
| themselves drowning in debt in a very short | | | | counting workbooks. |
| time. | | | | |
| | | | - A family finance night is a terrific way to |
| Twyla Prindle says, "Studies are now showing | | | | spend time together. Talk about the bills you |
| that for the very first time since the great | | | | have to pay to keep the family financially |
| depression, we now have a negative saving | | | | secure. Discuss the importance of paying |
| rate. Many of us are living check to check, | | | | bills on time and not overextending yourself. |
| and just getting by. All of us want the best | | | | Children will learn by your example. |
| for our children, and getting by is not the | | | | |
| best. If we teach our children basic | | | | Charitable giving is one of the most |
| principals now, they will become common sense | | | | important financial lessons you can teach |
| to them later." | | | | your children. Make them aware that there are |
| | | | many people less fortunate than they are and |
| Twyla experienced financial ruin after | | | | it is our responsibility to help. Giving to |
| graduating from high school. She was | | | | the needy is an important part of life. |
| rebellious and went off to college to live | | | | |
| her own life. She had at least 15 credit | | | | Children watch what their parents do. If |
| cards. Unable to keep up all the payments, | | | | parents are charitable givers, then the |
| the bills piled up, and creditor's phone | | | | children will follow in their footsteps. Be a |
| calls were constant. Thinking all of her | | | | role model for your children. Find a needy |
| financial woes would just go away, Twyla | | | | family in your town and make charity boxes as |
| chose to ignore them. After graduating | | | | a family and deliver them together. |
| college, she was offered a job in her field | | | | |
| of study. The employer did a credit check and | | | | Charity does not have to be only about money. |
| rescinded on the job offer. Bad credit had | | | | Teach your children that volunteering is just |
| caught up to Twyla at an early age. It took | | | | as valuable as money. Children can use their |
| years to pull herself out of the hole she had | | | | time and talent to give back to the |
| gotten herself into. | | | | community. Discuss with your children the |
| | | | volunteer opportunities in your area. Help |
| She learned from her mistakes and now used | | | | them decide the one that would be best for |
| her real life experienced to teach children | | | | them. |
| the meaning of money. Through her financial | | | | |
| literacy tips, she hopes others will not fall | | | | Discuss the importance of setting a financial |
| into the same financial traps she did. | | | | goal. Help your children create short and |
| | | | long term financial goals. Collect different |
| Begin teaching children financial literacy at | | | | magazines and have your children make goal |
| an early age. Three and four year olds can | | | | posters. The posters are a visual aid |
| learn to understand the concept of money. The | | | | reminding your children what type of |
| earlier a child learns how to deal with money | | | | financial goal they want to accomplish. |
| matters, the better. There are many resources | | | | |
| available to help parents begin: | | | | Talk to them about a basic financial plan, |
| | | | whether they want to set up a savings |
| - Games are one of the best ways to get a | | | | account, save for an item they want, and |
| child interested. Play the games together and | | | | assign chores for them to learn the value of |
| make it fun for your child. | | | | money. |
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