Teaching Youth About Money
We have had a lot of parents ask "How do I teach my kids to control their money?"
It's not easy to teach youth about the importance of budgeting and controlling finances. In the 1950's and 1960's, many youth worked, but often part of their income went to help support the family. By the 1980's youth were mostly working to pay for their own consumption, that is the money they earned was used as disposable income to pay for movies, clothes and music. Today's youth can earn far more income than most of us ever dreamed of while still in school.
Despite having so much money available, the key questions that need to be asked are: "Do they have anything to show for it? Is there anything saved for education? For a vehicle, house downpayment?"
Some parents have really taken the time to teach their kids some important lessons about money. It isn't an easy thing to do, but we hope that a few of the links below can provide you with some information and resources that can make teaching youth about finances a little easier.
8 Money Lessons for kids - million$journey
ABCs of teaching kids about money - financialpost.com
Funny Money for teens - investored.ca
Credit Union Foundation of B.C.-Education Awards