Just for Parents & Kids
Teaching your children about money and how to manage it for their financial future is a job many parents want to tackle, but are unsure of where to begin. The State Treasurer's Office has organized links on this page as a starting point for parents who want their children to become financially literate. Keep in mind that teaching these skills to your children is a process. Six key topic areas to build upon are: setting goals, earning money, spending money wisely through budgeting, understanding the value of money as you save and invest, using credit responsibly, and protecting assets. You can also teach your children, even if your own money habits aren't perfect. Together, you can develop skills the whole family will benefit from.
The theme for the 2016 contest is: "I Am a Money Maker!" The contest is a great way to explore money concepts with students in 3rd-12th grades. Division winners receive a $100 cash prize.
Do you talk with your kids about money? In this MoneyEd fact sheet, the Treasurer's Office shares developmental stages outlined by the National Endowment for Financial Education to help you introduce your child to financial concepts. Five core areas progress for children ages 2-4 through the teen years.
Help your child complete a personal reading log of books aimed at teaching lessons about money. If your child sends a completed reading log to the Treasurer's Office by the annual deadline he or she will entered into a drawing to win one of twenty $250 Vermont Higher Education Investment Plan savings accounts. Also, view online lessons and activities and a reading list of books that explore money themes.
The Money Smart Child initiative aims to support parents in teaching their children about money. The initiative is a three-way partnership between the State Treasurer's Office, Vermont Jump$tart Coalition, and People's United Bank. Check out the link above to view a guide with helpful tips on teaching kids about money. A free parent workshop is also available to interested schools, public libraries and community groups. The two hour workshop examines personal finance topics parents should cover with their children, explores "teachable moments" parents can use to communicate financial information, and introduces parents to hands-on activities they can do with their children. Contact the Treasurer's office by calling (802) 828-3706 to discuss scheduling a workshop for your community.
Here's a fun exercise that illustrates the concept of compound interest, the importance of consistently putting money away for the future, and the reward for patiently letting your savings grow!
Teens will enjoy playing games and watching clips on stories related to the world of finance. This site is distributed by American Public Television.