When you reach into a broad-ranging topic like personal finance, you find everyone and their cousin trying to reach across the Internet to give you advice. There’s so much information there that it can literally be overwhelming; there’s literally too much for the average person to sort through. Experts on the Today Show offer some insights on how best to teach your children about money. It's no secret that plenty of adults have money management issues, so why not start early with your kids and help them learn about personal finance? Giving a child an allowance is a great idea, because they immediately start learning the value of money, and they are forced to start managing the money. They have to make choices with their own money, and as a result, they will be better prepared for adult money management. The kids will probably make some mistakes early on, maybe choosing to buy a candy bar and then not having enough money for the DVD they wanted. But that's how they learn about budgets and choices! Listen to what the experts have to say below. And I agree with them: Children should have to earn their allowance. Money isn't free, and there's nothing wrong with people (even children) working for what they want. There's always a trade-off, and kids need to learn that early in order to become more responsible with their money. Now that you have a few ideas for finding items to sell, it is time to learn a little bit about how to run a successful garage sale. There are three things that are going to make you successful when running your garage sale - having items that people want, selling them at a low price, and organization. Yesterday’s post covered obtaining items that people would want to buy, so let’s cover the other two in a little more detail. |
