Teaching Children About Investing
What are some tips experts at Kiplinger’s suggest for reinforcing saving concepts with young children?
Experts at Kiplinger’s suggest that parents can better reinforce financial concepts in young children by helping the child set short-term goals because children do not have a long time frame or conceptual image developed. So the experts suggest that parents should encourage children to set goals that are short term in nature and easy to achieve. They even suggest that children specifically save money for a trip to their favorite toy store, a goal that is both short term and easily attainable.