These are the money skills kids need

Skills are the specific financial knowledge and problem solving methods we all use to make healthy financial choices. What is a credit card and how is it different than a debit card? How do you know which savings account to sign up for? What sources of financial information are credible and reliable?

As with the other building blocks, the best way to get started with teaching skills is to begin involving your kids in your day to day, and month to month, financial activities. Don’t make it a chore, but they should know that you check your credit report a few times a year for accuracy (You do, right?). If you accidentally miss a payment on your credit card show them the late fee and what it cost. Just like you want to prepare them for adulthood in other ways, the basic financial skills they need can come from you. Want to learn more about what financial skills you can work on at different ages? Keep reading here.