KIDS FINANCIAL LITERACY
Research shows that America's youth has a deep lack of understanding when it comes to finances and how to properly manage money. These disturbing statistics have generated a national movement to incorporate financial literacy into our education system and encourage parents to teach money management lessons at home.
With so much extra free time for children right now, most parents are inundated with questions centered on money. Can I have money to go to the movies with my friends? Can you buy me some new clothes for school? My friend Scott just got a new video game, will you buy me one? The list goes on and on.
Allowances have been a long-debated topic for years -- and whether parents should provide an allowance, when, how much and what a child is allowed to do with the funds are all important considerations. How can parents really be sure that an allowance is helping their child develop good financial habits?
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