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Kids and Money Archives - Page 2 of 2 - Words on Wealth
  • College,  Kids and Money,  Planning

    How To Talk About Student Loan Debt With Your Teen

    Feeling overwhelmed about the high cost of college? You’re not alone. A 2016 study Citizens Financial Group survey said that 57% of millennials wished they hadn’t borrowed so much money to attend college. This statistic leaves parents in a difficult position. Selecting a college tends to be a highly individualized and stressful situation for the student (and their family). We want to support our children’s choices, but we also want to make sure our children’s choices are as informed as possible. Talking to our kids about their choice of college can become even more confounding when you consider this tidbit from a 2014 study by Citizens Financial Group: 46% of…

  • Employee Benefits,  Kids and Money

    Dependent Care FSAs: The Employee Benefit Parents Shouldn’t Skip

    Do you have a kid under 13? Do you pay someone to watch them so you (and your spouse) can work? You may be eligible for a Dependent Care Flexible Spending Account (this is separate from your Healthcare Flexible Spending Account ). Childcare is a huge drain on many families’ budget but few families seem to know about or take advantage of this employee benefit. In this post we will go over the who, what, why, and how of Dependent Care Flexible Spending Accounts so you can make the best decision for your family and possibly save some serious money. What is a Dependent Care Flexible Spending Account? OK, first,…

  • Kids and Money

    3 Fun Ways Help Your Preschooler Understand Money

    Is preschool too young to start talking to your kid about money? It depends on how you do it and what you cover. You can make learning about money fun by keeping it simple. Build your preschooler's money smarts with these 3 fun and easy ideas! Your preschooler is ready to start learning simple vocabulary and basic economic lessons- e.g., if you want to buy something you have to pay for it with money. Or, if you work, then you can earn money. Preschoolers are very literal, so the examples and experiences need to be very concrete.  First, if you haven’t read the article on talking to kids about money,…

  • Kids and Money

    Teaching Kids to Handle Money

    Kids and money. For most of us this probably brings up memories of spending the majority of your allowance on candy. Or that really proud parent moment when your kid threw a fit in Target because you wouldn’t purchase them a $45 Lego set...No? Just me? A 2013 University of Cambridge study showed that kids learn most of their money habits by age 7. So how do we teach kids to make good financial decisions?  Money Grows On Trees Let’s start with one simple premise: kids literally think money appears out of thin air. Why shouldn’t they? Think about it - they don’t see you work (unless you work at…