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Money Management for Middle Schoolers

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Money Management for Middle Schoolers

Posted On: October 17, 2018 by Bank of Louisiana in: Budgeting, Family, General, Savings

It is never too early to start teaching your children about money management. Research has shown that there has been a decrease in understanding finances and how to manage money in America’s youth. Teaching your children how to manage their money leads them to becoming financially responsible adults. Below are 5 money management tips you can use to teach financial literacy in your home. Use Cash - Whether you’re grocery shopping or at the movie theater with your children, it is probably much more convenient to pull out your debit or credit card and swipe it. But, as you’re swiping your card, your kids are watching you. Using the plastic card does not allow them to actually see the exchange of money for your purchases. Instead, use cash. The kids will be able to see the transaction take place, and visualize the exchange of cash for goods and services. It will also teach the lesson of handing over hard-earned cash. Utilize a Piggy Bank System - Or better yet, a clear