Many of us are cleaning up our financial messes from our first years as adults. From the time of my first job babysitting at 13 the only thing I knew about money was how to spend it. I had no interest and no concept of budgeting, wise investing, or how much debt could tie me down for years and years. So because of my own experiences I knew that it was important to teach my kids all about money and debt in a fun, practical way.
Over the years we've read books, tried curriculum, used the save/give/spend jars, had allowances and just about everything else you can think of. But the best tool we've come across by far is a board game that the whole family plays together called Cashflow for Kids. The kids get a true concept of payday, bill paying, investing, passive income, debt reduction, and real life... all in a fun game that everyone from the littlest to the adults have fun playing. We were playing it again last night and even our 7 year old was realizing how the chains of debt were keeping him from paying his bills and was coming up with out-of-the-box ways to try and get rid of it. I love that!
So if you worry about your kids financial future there's no time like the present to teach them a healthy concept of money. Combine family time and financial security together and take a look at this great tool for parents.
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