Teaching kids about money is one good way to help them become more responsible. Here’s a quiz to see how well you are helping your child learn to take responsibility for money.
Answer yes or no to each of the statements below:
___1. I give my child an allowance so she can practice managing her own money.
___2. I encourage my child to save some allowance money. We also have a savings account for each child.
___3. I have established family savings goals. We work together as a family to reach those goals.
___4. I “think out loud” about money. At the grocery store, I may say, “If I buy the larger jar of jelly, we will actually save money over the long run.”
___5. I look for ways to give my child choices about money. “You could have two pairs of these jeans or one pair of the expensive ones.”
How well are you doing?
Each yes answer means you are helping your child develop healthy, responsible attitudes about money. For your no answers, try that idea from the quiz.
Reprinted with permission from the November 2007 issue of Parents make the difference!® (Elementary School Edition) newsletter. Copyright © 2007 The Parent Institute®, a division of NIS, Inc.