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    Explaining Personal Finance to Kids


    Explaining Personal Finance to Kids

    • 44 Pins

    How to check your credit report for free.

    How to check your credit report [Infographic]

    experian.com

    What is a FICO credit score? (40sec video)

    What is a FICO® Score and Why is it Important? | Experian Credit 101 Express

    youtube.com

    Teach your kids to be savvy shoppers. Let them in on this classic marketing trick: decoy pricing.

    The decoy price. The technique of adding a... | Sketchplanations - Explaining one thing a day in a sketch

    sketchplanations.com

    Teach your kids to be on guard for this surprisingly effective marketing trick: writing prices smaller to seem more affordable.

    Prices written smaller seem more affordable.... | Sketchplanations - Explaining one thing a day in a sketch

    sketchplanations.com

    Have you taught your kids about online fraud? Show them the anatomy of a "phish". | via FamZoo.com

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    famzoo.com

    Sammy Rabbit of The It's a Habit Company has tons of catchy personal finance tunes for youngsters like this one on saving: www.youtube.com/... Once you've introduced the concepts with Sammy's catchy jingles, let FamZoo help you turn them into regular habits.

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    famzoo.com

    Prepare your soon-to-be working teen for the initial shock of paycheck deductions. Here's a great 2 minute tour of a paycheck.

    How To Understand Your Paycheck

    youtube.com

    Start typing "finances are..." into your Google search box and you will come up with a good answer to the question: "Why should I teach my kid good money habits?" (Hat tip Brian Page @FinEdChat)

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    famzoo.com

    Some great stats in this infographic to share with your kids about why financial literacy matters.

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    hrblockdollarsandsense.com

    Terrific online calculator for explaining rent vs. buy home tradeoffs via New York Times

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    nytimes.com

    A quick, simple video that describes what a credit score is all about.

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    youtube.com

    Did you know you can get a free credit report every 4 months? You're entitled to a free report each year from each of the big three - Equifax, Experian, and TransUnion. So, if you stagger the report requests throughout the year, you can check up on things once every 4 months. It's a great way to keep an eye on any issues (stolen identity, incorrect info) lurking in your (or your child's) credit history. Here's a great FTC post and video on how to get your free reports. Really easy!

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    consumer.ftc.gov

    Wealth is... [Click to listen.]

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    andrewwaits.com

    Instant Gratification - www.behaviorgap.c... -- So true.

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    behaviorgap.com

    Sal Khan explains the difference between APR and effective APR. This is very important to understand when evaluating a credit card or other interest related product.

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    youtube.com

    This video is a bit long (for modern attention spans - 30min) but it's a great explanation of basic economic principles presented in a way that older kids can easily grasp.

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    youtube.com

    Show your kids this amazing comparison chart to illustrate the power of starting early when it comes to investing. Then open a Roth IRA as soon as they earn W2 income. (See: blog.famzoo.com/...)

    Teach Your Kids How To Save For Retirement

    daveramsey.com

    Some Guidelines for Teaching Your Teens About Tipping

    Personal Finance News & Advice | How to Be a Total Tipster: A Guide to Gratuity Etiquette

    mint.com

    list.ly/list/4zB - A List of wise quotes about money to share with the kids.

    Wise Money Words | Listly List

    list.ly

    MoneyAsYouLearn.org from the Treasury Department provides ready-made personal finance lessons for K-12 teachers. Via FamZoo.com

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    flickr.com

    The Motley Fool Investment Guide for Teens: 8 Steps to Having More Money Than Your Parents Ever Dreamed Of: David Gardner, Tom Gardner, Selena Maranjian: 9780743229968: via FamZoo.com

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    amazon.com

    Some good online shopping tips and guidelines from the FTC to discuss with your kids who are old enough to make purchases. Via FamZoo.com

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    youtube.com

    What fees might you encounter with prepaid cards? via FamZoo.com

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    youtube.com

    Step-by-step Banking Basics Pamphlet from the Federal Reserve: www.bos.frb.org/... via FamZoo.com

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    flickr.com

    The Value of Financial Literacy | With nearly 20 percent of Americans living beyond their means, education about personal finance is critical. Research indicates that teaching finance to students yields greater money-management skills that carry well into adulthood. 1 out of 5 Americans lives beyond his or her means...

    Infographic: The Value of Financial Literacy

    edutopia.org