Finance
Establishing good money management
piggy banks that have just one
habits and an understanding of finances
slot for money, this bank allows
is important for Hoosiers of all ages.
children to distribute their
But it’s especially important for younger
allowance between the four uses
generations to have a solid foundation for
based on their wants and needs.
when they enter the “real world” later.
• Be a positive role model for
Indiana recently passed a law requiring
good money management skills.
personal finance to be included in
Children often learn by watching
curriculum for students in grades 
and emulating their parents’
through 12. It’s important, however, for
behavior. Take a good look at
parents to also take a role in educating
your own spending, saving and
their children about money.
investing practices and make a
point to maintain healthy habits
in your own life.
Here are some tips for how to
get the conversation started:
• When it comes time to pay your
Protect Your Pockets:
bills, discuss with your children For more tips on talking to children about
Teaching Children to Manage Money
how much things cost and how finances and to find out how to obtain a
you budget your income to pay Money Savvy Pig, visit
By Indiana Secretary of State Todd Rokita
those bills. www.IndianaInvestmentWatch.com.
Consider this: the latest version of the
classic board game Monopoly trades in
• Make the lesson real by giving
cash for debit cards, but does it explain
children their own money to
WEB-TECHS
to children what overdraft charges
manage. Assign them chores or
are or how to maintain a register of
tasks and reward them with an
transactions? What about the Barbie doll
allowance, then help them decide Technology Solutions
that comes equipped with her own credit
what to do with that allowance.
for Small Businesses
card and cash register? When she swipes
too many times, her balance resets
• Consider using a Money Savvy
without requiring any payment. What
Pig to demonstrate the concepts
(502) 212-0477
message does that send about the reality
of saving, spending, donating
of using debit and credit cards?
and investing. Unlike traditional
WWW.WEB-TECHS.COM
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20
July/August 2009
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