Children should be taught about money and how to use it wisely. These lessons can help prevent kids from facing financial hardships later in life and teach them how to deal with them when they do face them. There are a variety of tools available to help parents teach their kids about money in fun, practical ways.
"Financial Peace Jr."
Dave Ramsey's "Financial Peace Jr." is geared toward kids ages 3 to 12. This program includes an audio CD of lessons, an instruction manual and a variety of tools that help kids learn how to manage their money. The product includes a calculator; dry erase board to track earnings and savings; envelopes to encouraging giving, spending and saving; and a coin carrying case. The cost of the program is $19.95. Only debit cards are accepted through the company's website.
The Lampo Group
1749 Mallory Lane
Brentwood, TN 37027
888-227-3223
daveramsey.com/store
Pay Jr.
The Pay Jr. Chore and Allowance system is a free online tool to teach children 12 and under how to manage their money. Parents set up an online account and select the chores for children to complete, including how much each chore is worth. Children are sent email reminders to complete their chores and note on the site when each chore has been completed. The program then tracks how much money children earn by completing chores.
CardLab, Inc.
1701 West Northwest Highway, Suite 100
Grapevine, TX 76051
214-618-7048
payjr.com
The Money Game
The Money Game is a financial literacy curriculum that teaches kids about money through a game. As part of the game, students are given imaginary pay using paper money and are required to allocate that money for practical needs such as rent, savings, education and living expenses. Kids continue to play the game as they learn the program's five money habits, including the concepts of paying themselves first and investing. The program is available in a down-loadable format for $79 or a ready to play kit for $179.
Creative Wealth International, LLC
135 Chapala St.
Santa Barbara, CA 93101
800-928-1932
winthemoneygame.com
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