Ways to Help Your Kids Prepare for Their Financial Future

When I was 20, I got my first apartment, my first credit card, and my first credit card debt.  My Mom lived paycheck to paycheck so that’s the way I lived.I racked up a lot of debt that took me a long, long tome to pay off.  I wanted to teach my kids differently, so I made sure that as a homeschooling Mom I made personal finance a part of their lessons. However, you don’t have to homeschool to teach your kids how to be financially savvy.  I found these tips on FeedThePig.org.

  1. Get Started: Start with budgeting, goal setting, spending, and paying taxes.
  2. Managing Money: All about saving, banking, investing, retirement
  3. Mastering Credit and Debt: Credit cards, student loans, mortgages, and credit protection.
  4. Planning Ahead: Major purchases, couples, starting a family, careers.

 


FeedThePig.org has great resources to help me teach my teens how  save more and spend wisely, including a new game called Yesterday’s Tomorrow (www.game.feedthepig.org). The game is like a “choose-your-own-adventure” in the form of a digital photo album! They get to develop a relationship with a future version of themselves, jumping through key life stages and instantly seeing the outcomes of those choices from teenage years through retirement. As they think through some life decisions like school, job, and awesome vacations, they’ll see how their choices may save, or lose money.

The site is full of resources. Heck, I even started using a budgeting sheet to help me rein in my spending a bit. I surely don’t have enough put away for retirement.

I want my kids to  have the knowledge that I didn’t have.  And let them know they have options other than Ma’s house.

Visit FeedthePig.org. to see how you can help your kids get on the right road to financial knowledge.

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