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Teach Kids Money Smarts with Resources by Family Life Credit Services

Last updated Monday, July 2, 2012 10:13 ET

Family Life Credit Services offers free resources for parents and children to teach financial responsibility.

West Fargo, United States , 07/02/2012 / SubmitMyPR /

Family Life Credit Services understands the importance of making smart financial choices. It is never too early to learn financial responsibility, and Family Life Credit Services offers free online resources for parents to teach basic lessons and concepts involving money.

Helping children learn about money is not an easy task, but the free resources are a fun and engaging way to teach basic concepts. The chore list and suggestion resource help children understand the value of money because chores and responsibilities must be met in order to receive payment. The chore suggestion lists gives tasks for children as young as 2 to as old as eighteen. This allows children of all ages to be able to participate.

“Give, Save, Spend” jars are another resource parents can use. Families decide how much money should be deposited into each jar (i.e. 10% into giving, 25% into saving, and 50% into spending). Implement this, and children can begin to learn the concepts of budgeting and saving. It can also help parents teach children the differences between needs and wants. Using the “Give, Save, Spend” jars provides great opportunities for candid conversations about money with kids.

Children that learn to handle their finances when they are young, often handle their finances better as an adult. The Family Life Credit Services’ “Kids and Money” resources are free and can be downloaded on the website.

Family Life Credit Services is an organization of Christian credit counselors who provide confidential biblical Christian debt counseling help for individuals and families who have found themselves in financial crisis. We strive to help others achieve their personal, spiritual, and financial goals. For more information about Family Life Credit Services, please visit www.familylifecredit.org or call toll free at (800) 747-9307