What I Would Love to Teach My Kids About Money

I love to manage money and if I could give my kids the right tools to keep their financial lives on track, I think it would be a great gift. I don't want to make them obsessive, just careful.

Until they get good financial training going in the schools, it's up to the parents to set their kids on the right path.

My goal is to teach the kids that money is earned, doesn't grow on trees and is more easily spent than earned. Put at least 10% in savings, more is better, and wait a week before buying something you want. If you still want it after a week then you must really want it.

Learn how to balance a checkbook, manage credit cards wisely, establish good credit and use it correctly. Learn how to invest in the stock market and other things. Learn about charity and other donations. Give back to the world at least a little. Find the joy in what money can offer but don't make it your whole life.

Lots of kids graduate never really knowing that credit is a tool not a blank check. They don't understand why it's so important to pay your bills on time and not get into bankruptcy. They need to know that the good things in life are available to those who are not a threat to the rest of the world. If you can't manage money you can't be trusted. If you can't be trusted no one will lend you money for a house, a car, or an education. It all matters. It's all connected.

Kristen has a lot of passions and likes to write. Check out one of her other topics about wooden hammock stands at http://www.hammockstandsdirect.com You'll learn something new and see interesting pictures.