In these tough economic times it’s harder than ever to teach children about money management and saving money. So easily we get into living month to month and just try to pay our bills and survive, that even we as adults forget about smart money management and saving money for long term goals. I’m all about living in the moment and enjoying what your money can get you right now, but nobody can live your life worry free when living hand to mouth each month – long term money management and savings are a must! And that’s why establishing the right money management routines and skills for children when they are still young is so important!
Kidworth Teaches Kids About Saving Money
Kidworth is a new website where children can learn to manage money, set up savings goals and get ideas how to reach them. Parents can open a free account for their children at Kidworth, and create a specific account for each kid. Kidworth helps in setting, tracking and sharing money saving goals, and teaches children how to set up goals for specific items they want to buy (like a laptop) or how to set up a money saving goal for money to be shared, for example for a school-fundraiser, or how to best save money for a long term goal like college. Kidworth teaches and inspires kids to use their own efforts, and help from their support network, to save and spend wisely.
Kidworth has several resources for kids – and parents – to learn about money. They also give tips
how to make money, like selling your crafts on Etsy. While the site is geared towards children and their goal is to get children educated about money management, they are making it easy for any parent to do it together with their child. Kidworth also supports parents and you’ll find resources how to
talk and teach about money with your children and much more.
According to Kidworth children earn an average of $25,000 by the time they are about 18? This money comes from gifts and summer jobs etc. and yet most children have no money and no skill sets to manage money by the time they enter adulthood. This really hit home with me, and I think I never learned the healthy money management skills when I was a child. My parents bought what I needed, we didn’t have allowances, and I never really worried about money. And somehow as a parent I never thought of doing things differently with my children, and am now slowly realizing that having an allowance for kids isn’t such a bad thing and doesn’t have to lead to meaningless spending – but can result to smart saving and learning about money.
What Is Your Kid’s Net Worth? from MediaBlitzz on Vimeo.
I am ready to be a better parent and start taking a better responsibility about teaching my children about saving money and money management, and one of the first steps is going to get very well familiar with Kidworth – together with my children.
What about you? Do you have any tips how to teach children about money?
Disclosure: This is a sponsored post but all of my opinions are my own.
