Teaching Children About Investing
What are some creative ways in which parents may use allowances to educate their children on financial matters?
The DoughMain survey shows that 38% of parents match the deposits made by older kids in their savings account. This helps to show older kids that their savings can grow, giving them further incentive to save. Since many teens are given responsibilities such as paying for cell phones, music, and entertainment, they will become more accustomed to and interested in saving.