Tips and tricks for raising a smart investor
News from Payson Roundup:

The sooner the better: The saying applies to many facets of life, including educating children about money. By introducing sound financial habits early on, you’ll give your child a head start on becoming an informed investor. Here are some creative ideas, as well as book and Web site suggestions, for raising a financially savvy kid.

Lessons for every age

Toddler — Although it may seem early to begin instilling investment know-how in a toddler, the first few years of life are critical for mental development. Toys that incorporate counting, such as building blocks, can help a child develop mathematical skills.

Age 5- 7 — Board games are an entertaining way to teach kids about managing finances. Monopoly covers all the bases — earning money, saving and spending, capital budgeting, risk and reward and taxes. This classic game now comes in an electronic banking edition and even as a smartphone or tablet application. Other options include The Game of Life, Billionaire Tycoon, Moneywise Kids and Pay Day.

Age 8 to preteen — At this stage, many children start accumulating income from allowances, birthdays and special occasions, and even small businesses, like lemonade stands or shoveling driveways.

As your child begins dealing with actual money — no matter how small the amount — talk with them about savin…………… continues on Payson Roundup

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