How to Teach Your Kids About Money

Thursday, April 21, 2011

A lot of parents grapple with how to talk to their kids about a certain sensitive topic. They want to know: Are the kids old enough to understand? Am I too late? And will I explain things right? We refer, of course, to money. Takeaway contributor Beth Kobliner has been working with the President's Advisory Council on Financial Capability on this very topic. She joins us from Washington DC, where she’s been on duty. Chuck Kalish is also here. A professor of educational psychology at the University of Wisconsin-Madison, he researches and develops financial literacy curriculum for preschoolers.

 

Guests:

Chuck Kalish

Produced by:

Kristen Meinzer

Contributors:

Beth Kobliner

Comments [3]

Pepe from San Diego

Congratulations for leading financial education for new generations, the actual national debt per person is about $54K based on expenses and debts, is time to change the balance to investment side.
All kids are so smart and ready to learn, our paradigms and values are the wrong ones.
I wish you success and fast movements into kids and parents financial education.

Apr. 21 2011 12:15 PM
jena from New Jersey

I graduated high school in 1993. Senior year we played the stock market game (put together a portfolio and tracked it) but we never were taught how to balance a checkbook or how to handle credit cards. A friend who got overwhelmed by credit card debt in her early twenties wonder why we were taught how to buy stocks but not how to manage our own money.

Apr. 21 2011 09:26 AM
Penny Pound from Wall St

Since I love money so much and I want to train my son to love money too, I've filled his playroom with hundreds of dollars of my spare change (sterilized,of course). He has a lot of fun with all that "Shiney." I've told him he can't come out till he counts it all and gets the amount correct. Is it too early to expect the right answer?... he started to get impatient and yesterday I caught him tying to GIVE AWAY some of it to a little friend who was playing outside his window. How can I teach him the importance of hoarding?

Apr. 21 2011 07:41 AM

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