Tuesday, December 16, 2014

Teaching Kids Money Basics as a Life Skill

Knowledge of money management basics is a necessary life skill - and experts are weighing in, declaring that a consistent curriculum needs to be put in place to teach kids about money from a young age. In Canada’s schools need ‘focused, consistent’ financial education program: experts, Paola Loriggio reports that an investment of time to train the teachers and have effective resources is required to prepare the system for successful, broad-based implementation, a process that may take three to five years. Certainly, students would benefit from having structured, hands-on lessons on dealing with budgets and other practical money topics. But, as money guru Gail Vaz-Oxlade points out, finance education starts at home with the parents — and that means you showing your child by example how to properly manage money, save for the things they want, and not spend beyond their means.

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