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Mother's Day Five Tips for Financial Education

Mothers play a crucial role in their children's financial success later in life

By LatinoLA Contributor
Published on LatinoLA: May 3, 2013


Mother's Day Five Tips for Financial Education


Mothers play a crucial role in their children's financial success later in life. Here are five tips for parents:

1. Start early -- Before they even start school, children begin to understand the process of managing money

2. Set goals -- Have children write down things they want and what they cost. Teach them about making choices and saving

3. Pay a Modest Allowance ÔÇô Just a small amount can help children learn

4. Make a budget -- Start with three categories: spend, save, give

5. Use Free Resources -- Check out your local library, and the Hands on Banking?« website a parent-tested, parent-approved program available free at handsonbanking.org; Wells Fargo's children's financial success resource center at financial success resource center at; and your public library, which likely has a number of good books on the topic.

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