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It's Important for Parents to Teach Their Kids about Money

Citi ConsumerFeature


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:60 READER SCRIPT
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ACCORDING TO A RECENT CITIBANK-SURVEY, U-S-WOMEN CITED THEIR MOTHER AS THE PERSON WHO TAUGHT THEM THE MOST ABOUT PERSONAL FINANCES.  TEACHING CHILDREN ABOUT MONEY CAN SOMETIMES FEEL OVERWHELMING.  HOWEVER, RAISING FINANCIALLY SAVVY KIDS IS NOT ONLY GOOD FOR THEIR FUTURES--BUT IS ALSO GOOD FOR THE ECONOMY AND SOCIETY.  CITIBANK'S "WOMEN AND COMPANY" OFFERS THESE TIPS:  FIRST, USE EVERYDAY ACTIVITIES AS TEACHING-TOOLS.  TRIPS TO THE GROCERY-STORE CAN SHOW KIDS HOW TO PLAN FOR PURCHASES--AND MAKE PRICE-COMPARISONS--WHILE THE LIBRARY CAN INTRODUCE THE CONCEPT OF BORROWING.  ALSO, START A FAMILY-FUND THAT HAS A COMMON-GOAL--LIKE A VACATION OR CHARITY--THAT LETS EVERYONE EXPERIENCE THE POSITIVE-RESULTS OF SAVING AND GIVING.  FINALLY, LEAD BY EXAMPLE.  TAKE YOUR KIDS ALONG WHEN YOU SAVE, DONATE, AND INVEST.  BE OPEN ABOUT YOUR OWN MISTAKES--AND GIVE THEM ROOM TO GROW, BY ALLOWING THEM TO MAKE THEIR OWN MISTAKES NOW--WHEN THE RISKS ARE SMALL.  FOR MORE HELPFUL FINANCIAL-TIPS AND -INFORMATION, VISIT "WOMEN-AND-CO"-DOT-COM.


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