#ad Teaching Important Lessons During the Month of Financial Literacy

This is a sponsored post, all opinions are my own.


April
is Financial Literacy Month; however the important lessons of
personal finance are relevant year-round to families and children.
Like many out there, my husband and I find spring to be the time of
the year when we can really take a look at our finances. It is the
time of year when taxes are complete, and when some of the purchases
we made over the holidays are being paid off, or will be paid off in
the near future. 


Though
the household finances are for my husband and I to handle, we are
taking advantage of Financial Literacy Month and teaching our kids
about something we take seriously. By taking time to teach our kids
about finances and budgets, we can teach them about being responsible
with their own money at a young age, hopefully in a way that will
follow them into adulthood.


One
way that my husband and I teach our kids about finances and budgets
is by having the kids get involved in the household budget. By
showing them what is spent on the household bills and food each
month, they can see what’s leftover and how our money was used. For
example, if we want to plan a summer vacation, we can all be involved
in knowing how much the vacation will cost and what is needed to
achieve the financial goal. We can do this by using computer software
such as EXCEL, or by keeping a household ledger with all of the
finances itemized. 


Another
way my husband and I show our kids how to be financially literate is
by allowing them to have their own savings accounts. This is
something that is not only taught at home but in their elementary
school as well. The kids are given information on how to manage a
savings account from some of the local banks, who also offer savings
accounts for kids. 


Another
thing I can appreciate when it comes to financial literacy are
websites that promote additional education for kids. Discover is
participating in the effort to bring financial literacy to high
school classrooms nationwide through Pathway
to Financial Success
.
The goal
is simple: Arm parents and children with the skills they need to
succeed, preparing them for a brighter, more responsible financial
future. With this website, my kids and I can go on and get the tools
my husband and I need to educate our kids about being more
responsible and aware of finances. I also like that Pathway to
Financial Success is not only there to help parents at home in
educating their kids on strong financial futures, but they also
provide grants to schools that are implementing or enhancing a
financial literacy curriculum.


Aside
from the basic household bills and essentials and saving for the
future, I think that teaching kids about credit cards and how to use
them correctly is crucial. I like that Discover cardmembers can sign
up for the online Account Center to view transactions, their
accumulated Cashback Bonus, along with the Spend
Analyzer
,
which
shows spending in various categories. I have found that with the
knowledge and tools that parents can teach at home, along with the
education on finances that kids can learn from their schools, we can
provide our kids the knowledge they need for better futures.


This
is a sponsored post. All opinions are my own. This post is sponsored
by Discover since I am a member of the Discover Preferred Blogger
Program. Thank you to Discover for sponsoring this post!

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1 Comment

  1. joanna garcia
    March 27, 2014 / 10:26 am

    Love that Discover is doing this! it is so true that as parents we need to teach our parents this and i love the idea of giving them a savings account so they can learn to save too!

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