Kids and Money Series - Learning Goals for Ages 14 to 18

For the last article in our 'kids and money series' we'll finish off with the high school ages. These kids are not to be taken lightly! They are developing their own sets of values and opinions. Tread with caution, lol, but keep instilling your core financial values as they turn the corner into adulthood.

•    Get a job. Now is the time for your kids to start earning money of their own. Whether it's flipping burgers or selling magazines door to door, a job will help them develop a sense of independence and responsibility.

•    Start their own business. Believe it or not there are plenty of teens making their own money through their own businesses. The internet is teeming with success stories and we'll discuss many of them here on this blog. In today's economy, it pays to be self employed. Gone are the days of job security and pension plans.

•    It's time to get serious about teaching your kids investment strategies and wealth building systems. Discuss what's going on in today's economy and where the real opportunities lie. Make sure your kids understand that, no matter what the market is doing, there is always a way to build real wealth.

Keep the conversation going at alls times with kids and money skills. They're never too young or too old to begin learning about finances, wealth building and the economy. Don't wait for them to learn these things in school, sadly it is rare that a child receives any form of financial education in today's systems.

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Kids and Money Series - Learning Goals for Ages 11 to 13

As our children get older, especially as they enter middle school, they should be having increasing responsibilities around money. Kids and money management don't always go hand in hand at this stage. Use these milestones to ensure they are getting the financial education they need at their ages.

•    Encourage your kids to have money goals and help them keep track of their successes. Plan for a day trip for the family to a place your pre-teen wants to visit and create a budget with goals for that event.

•    Teach your kids about investing versus savings. Expose them to tangible and fun investments like coin collecting as a way to encourage learning about money growth and wealth building strategies.

•    Foster an appreciation for an entrepreneurial spirit. Have your kids look up young, successful entrepreneurs to share their stories with the rest of the family. Discuss what types of self-employment your child may be interested in pursuing to open the doors of possibility to them at their impressionable age.

•    Don't forget to include charity in your kids and money education plans. Whether it's paying tithes to your place of worship or volunteering at your local nursing home, discovering the true value of what is really important in life should be included in everyone's financial education.

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Kids and Money Series - Learning Goals for Ages 6 to 10

In this series we'll discuss kids and money learning milestones for different stages of development. For kids ages 6 to 10, as they begin to outgrow the fairytales and myths of early childhood and are ready to begin learning the realities of money.

The following milestone lessons are appropriate for this age group:

•    Be sure your child is able to identify different forms of currency (nickel, quarter, etc.) and that they understand the value of each.

•    Help your child learn how to make change and how to count exact amounts for purchases.

•    Foster a sense of responsibility with kids and money management. If your child loses their money, do not replace it. Give them the space to learn this important lesson early on to prevent irresponsibility as they get older.

•    Make sure your kids understand that things cost money. Discuss the prices of things as you shop and, when your kids asks for something, have them figure out how much it will cost and if they can afford it.

•    Consider giving your kids an allowance at this age. One dollar for every year your child is old can be a good guideline. Encourage them to develop goals for purchases and saving their own money to buy what they want. Let them enjoy the satisfaction that self-sufficiency offers.

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