{"id":603,"date":"2010-05-29T18:46:34","date_gmt":"2010-05-30T02:46:34","guid":{"rendered":"http:\/\/kidnexions.wordpress.com\/?p=603"},"modified":"2011-11-15T16:45:56","modified_gmt":"2011-11-15T16:45:56","slug":"the-other-literacy-financial-literacy","status":"publish","type":"post","link":"https:\/\/www.familymathnight.com\/blog\/?p=603","title":{"rendered":"The Other Literacy…Financial Literacy"},"content":{"rendered":"

We all know that literacy, the ability to read and write, is an important life skill.\u00a0 It’s so important that we often create an environment at home to reflect this.\u00a0 We start reading to our kids from an early age, years before they know how to read themselves.\u00a0 We surround our kids with all kinds of reading materials from books, to magazines, to newspapers, to grocery lists.<\/p>\n

And then, to underscore the importance of reading even more, we read in front of them.\u00a0 Yup, we pick up the newspaper or magazine and absorb the words on the pages while our kids are watching.<\/p>\n

When they\u00a0begin to read on their own, we ask them questions about the plot and characters.<\/p>\n

At school, monthly book orders are sent home and assemblies bring in authors who talk about how they write their books.\u00a0 We even reward kids with stickers on classroom charts or refrigerators at home reflecting pages read.<\/p>\n

It’s hard to grow up in an environment such as this and\u00a0miss the message that reading and writing is important.<\/p>\n

The Money Connection:\u00a0\u00a0\u00a0There’s another type of literacy which is just as important that isn’t quite as integrated into our environment.\u00a0 Financial literacy.\u00a0 Simply stated, financial literacy is the ability to effectively and comfortably deal with issues relating to money in a way that benefits us.\u00a0 It’s important for things such as budgeting, understanding credit, and investing.<\/p>\n

We need\u00a0to be just as passionate about our kids learning financial literacy as we are about teaching them reading and writing literacy.\u00a0 But since financial literacy in the elementary and middle school curriculum is not where it should be, we’re going to need to do double-duty at home.\u00a0 Without obsessing about money, this simply means that we need to be aware of opportunities to sneak in a few life lessons.<\/p>\n

Here is a starter list of ways to create an environment where learning about money is simply a natural part of your everyday routine, thus underscoring\u00a0its importance:<\/p>\n

1. Talk about money from an early age – how it is earned, how there is a limited supply, the importance of making good spending choices, how to be a good consumer, etc.<\/p>\n

2. Just like a book is the tool we use to teach kids how to read, money is the tool we use to teach kids how to become good money managers.\u00a0 Give your kids money on a regular basis (an allowance is the most popular way) and then have them be responsible for their discretionary spending.<\/p>\n

3. Create a list of extra jobs kids can do around the house to earn additional money.<\/p>\n

4. Share your savings goals with your kids and have them create their own.<\/p>\n

5. Have tweens and teens keep track of their spending in a registry<\/a> so they get an idea of where their money goes as well as learn how to keep a running balance.<\/p>\n

6. As an incentive to get your child to save, offer to match their savings dollar for dollar.<\/p>\n

7. Always look for teachable moments, such as being out shopping, to tie in important money ideas.<\/p>\n

Kids learn to become good readers through reading.\u00a0 By the same token, kids learn to be good money managers through doing money.\u00a0 Providing your kids with money to manage and initiating on-going money discussions at home will help build the financial foundation so necessary for success in today’s society.<\/p>\n","protected":false},"excerpt":{"rendered":"

We all know that literacy, the ability to read and write, is an important life skill.\u00a0 It’s so important that we often create an environment at home to reflect this.\u00a0 We start reading to our kids from an early age, years before they know how to read themselves.\u00a0 We surround our kids with all kinds of reading materials from books, to magazines, to newspapers, to grocery lists. And then, to underscore the importance of reading even more, we read in…<\/p>\n

Read More Read More<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3,17],"tags":[24,26,228,32],"class_list":["post-603","post","type-post","status-publish","format-standard","hentry","category-allowance","category-teaching-kids-financial-literacy","tag-kids-and-finacial-literacy","tag-kids-and-money","tag-teaching-kids-financial-literacy","tag-teaching-kids-money"],"yoast_head":"\nThe Other Literacy...Financial Literacy - Karyn's Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.familymathnight.com\/blog\/?p=603\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Other Literacy...Financial Literacy - Karyn's Blog\" \/>\n<meta property=\"og:description\" content=\"We all know that literacy, the ability to read and write, is an important life skill.\u00a0 It’s so important that we often create an environment at home to reflect this.\u00a0 We start reading to our kids from an early age, years before they know how to read themselves.\u00a0 We surround our kids with all kinds of reading materials from books, to magazines, to newspapers, to grocery lists. 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