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play dough Teach kids about money matters
Teaching kids about money matters starts at home
Date published: 4/30/2006 By PORTSIA SMITH By PORTSIA SMITH Your teenage daughter can recite all of the elements on the periodic table by memory. Your neighbor's son can figure out how to program, download and upgrade just about anything onto a computer. But can either of them balance a checkbook? According to a survey by the National Jump$tart Coalition for Personal Financial Literacy, just about half of high school seniors have the basic understanding of general financial concepts, such as using bank accounts, investing in stocks and bonds or saving for college. While Virginia has recently passed a law that will require educators to give more finance and economic lessons in the classroom, financial organizations say the real teachers should be the parents at home. "It's never too early to start teaching your children the financial habits that they can use throughout their lives, and everyday life is full of opportunities to teach children the value of money and how to save," said Amida Mehta, director of marketing at ClearPoint Financial Solutions Inc., which has an office in downtown Fredericksburg. "Whether you realize it or not, kids are always observing their parents' spending habits. From putting loose change into piggy banks to distribution of allowance money, parents have a great chance to teach their kids positive money management behaviors." The Virginia Council on Economic Education has 13 centers across the state that offer programs designed to help students understand basic economic principles and develop the decision-making skills needed to be informed citizens, productive employees and wise consumers. The nonprofit organization mainly works with teachers, and training is designed to facilitate classroom instruction that prepares students for the Virginia Standards of Learning testing. The nearest center to the Fredericksburg area is located at George Mason University in Fairfax. "Economic Fun Night," a 90-minute evening session, is a popular workshop for parents and elementary-school students full of economic-based activities, said program coordinator Rachel Powell. "It's things you can do with your children at home or at the grocery store that can help them learn," she said. Area elementary schools can request the free workshop to be held at their location. ClearPoint and the National Foundation of Credit Counseling suggest parents take the following steps to arm their children with skills that can lead to healthy financial lives: Examine your own attitudes
Read more stories about Fredericksburg Date published: 4/30/2006
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