by Chris Jordan
My kids, like most kids I would venture to guess, do not really understand the idea of budgeting and saving. They will earn money doing extra chores, or get money as a birthday present, and immediately think of twenty different impulse things they can purchase with it. Things they didn’t even know they wanted, needed, before we stepped into the store. Given the amount of Americans who are deep in credit card debt, the impulsiveness is not something that naturally stops at adulthood.
Solutions for when your child wants a name brand item that you simply can’t afford.
Choreganizers are a way to organize chores for your kids and reward them once they complete the tasks. We’ve done a Family Experiment to see if it works for us.
by Rachel Meeks
As an adult, I’ve volunteered to teach personal finance classes to teens in local schools. This is what I want teens to know about how credit cards work before they go off to college.