Understanding money and finance is crucial in today's society. However, most children are not receiving formal training in money management in school. There are many ways parents can increase their children's financial literacy and help set them up for success as they navigate the world of earning and budgeting later in life. In this podcast, we discuss recommendations surrounding allowances, saving and checking accounts, budgeting, charitable giving and promoting work in teens.
This episode written by Dr. Lena Rothstein and Dr. Dean Blumberg.
We thank Valarie Hash an education manager at Junior Achievement of San Diego County for reviewing this episode, although Drs. Lena and Dean take responsibility for any errors or misinformation.
Supplemental material:

* Healthy Children Allowance for Teens–Using an Allowance to Teach the Value of Money

* Healthy Children Managing Money

* National Financial Educators Council Cash for Candy Family & Friends Participation Guide

* National Financial Educators Council Teach Kids about Money (Tips 1 through 5)

* The Mint Fun For Kids

* Warren Buffett's Secret Millionaires Club

* Consumer Financial Protection Bureau Money as You Grow: Help for parents and caregivers

* Parents.com Money Milestones for Kids: An Age-by-Age Guide

Photo from CUInsight