Teaching Money Management to the 12 and Under Set
NEWPORT BEACH, Calif., July 3 /PRNewswire/ — How do you teach your children about money? Queercents, a personal finance blog serving the lesbian, gay, bisexual and transgender community, is helping parents teach frugality to the twelve and under set.
Author Holly Wagg discusses her own childhood memories of saving her allowance. “I must have been around 6 years-of-age and the toy I coveted was a My Little Pony baby buggy. This was the first big ticket item I had ever wanted. I was willing to save up all my allowance, accumulated at the rate of $2 per week, to have this toy. I was getting more excited week after week as I saw the balance outstanding grow smaller. I was proud of myself. This was about as empowered as a 6-year-old could be.”
Holly says that her own children aren’t nearly as motivated to save their money as she was. “As parents, one of our many roles is to teach our kids to be financially literate. The lessons we want to impart at this age are the basics of saving a little, spending a little, and investing a little to make the world a better place. While we had a system in place to achieve these goals, it needed a little fine tuning as our kids weren’t succeeding in making smart spending decisions.”
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