OKLAHOMA CITY – If you haven't already, you're probably about to start holiday shopping. Have you talked to your children about the value of money and the importance of managing it wisely? All parents hope that their children will grow up to make prudent use of their money, yet few actually spend time talking to them about how to accomplish these goals, a new study has found. According to the American Institute of CPAs, parents are more likely to have talked with their children about good manners, smart eating habits, the importance of good grades, the dangers of drugs and alcohol and the risks of smoking than about sensible spending. The holiday season offers plenty of opportunities to educate your kids.
If you're not sure how to get started, the Oklahoma Society of Certified Public Accountants (OSCPA) has this advice.
Make it fun. Help your children create colorful charts that monitor their progress or illustrate the chores they can do around the house to earn money. Suggest that your child draw a picture of what he or she is saving for and use it to decorate the piggy bank or jar holding the savings.