Stephen J Arnett - Teach Children to Get and Stay Smart About Money

*Teach Your Child to Save Day, is just around the corner and it is the
perfect opportunity to not only teach kids in elementary school the
important behavior of saving, but where saving fits into the larger money
management picture. Almost three quarters of parents feel unprepared to
teach the basics of personal finance skills to their children, yet they
really want this message taught. Teach Your Child to Save Day presents a
unique opportunity for banks, credit unions, and other financial service
organizations across America to help parents teach their children how to get
and stay smart about money. Five quick money savvy tips plus programming
ideas from Money Savvy Generation.*

Teach Your Child to Save Day, is just around the corner and it is the
perfect opportunity to not only teach kids in elementary school the
important behavior of saving, but where saving fits into the larger money
management picture. "As a former financial services professional and now as
an educator, I've learned that you cannot begin too young to develop in kids
a sense of delayed gratification and to teach them the crucial life skills
associated with responsible money management," explains Susan Beacham,
founder and CEO of Money Savvy Generation.

Almost three quarters of parents feel unprepared to teach the basics of
personal finance skills to their children, yet they really want this message
taught. Teach Your Child to Save Day presents a unique opportunity for
banks, credit unions, and other financial service organizations across
America to help parents teach their children how to get and stay smart about
money. This Teach Your Child to Save Day, share with parents 5 quick money
savvy tips:

1) They have choices. There are four choices for money: Save, Spend, Donate,
and Invest. Children should be taught that they don't have to spend every
dollar they get.
2) They need goals. Saving without a goal is like playing football without
touchdowns. No fun!
3) They should pay themselves first. A child should be taught to save a
portion of every dollar.
4) They need an allowance. Pay children in cash and let them manage that
money. That way they will learn that when money is gone, it's gone.
5) They need good role models. Children are keen observers of parental
behavior. So pay bills on time, use cash rather than credit where possible,
and take them to the bank when you make a savings deposit.

Money Savvy Generation has worked with all types of financial institutions
who want to teach the basics of money management to children. One approach
is to introduce a classroom to the company's Money Savvy KidsPersonal
Finance Fundamentals featuring the four chambered, award-winning Money Savvy
Pigpiggy bank.

For even younger children (kindergarten through grade1), another approach
introduces them to the Money Savvy Pig hand puppet who tells personal
stories from his own life to convey the importance of saving, spending,
donating and investing. Each story takes about 10 to 12 minutes and is
accompanied by color images, songs, workbook activities and the "When You're
Smart with Money" poem poster.

-- 
Stephen J Arnett