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Parents and kids and money

As parents, we understand the importance of literacy. We sit for hours reading with our children. However, children must be “literate” about money matters, too.

Learning how to think about money and manage it wisely is an equally important life skill. We must patiently help our kids “sound out” the many ways to control money. Our kids will learn by doing. Some lessons will be thrilling. Others will be frustrating, even painful.

In the end, we hope that our children will grow into financially responsible adults. The rewards are life-altering: living within their means, free from the anxieties of debt, and secure in their future.

This section will give you tips and tools for teaching money literacy – and help you assess your ability to model good financial habits. Read on!

Just for Moms

Back to School Savings – Unexpected Ideas for Cutting Costs

Ahhh…back-to-school…that magical time when kids grab for clothes and supplies and you grab onto something to steady yourself when the bills start coming in. Below are a few lessons from The Mint on back-to-school savings that will might help earn you an “A” for affordability.

1) Everything not so old is new again – Kids grow up and out of their clothes way too quickly. The good news is that it happens to every parent, so get your friends with kids of various ages together for a clothing swap party. That barely-worn windbreaker that no longer fits your son might just snag a pair of pink winter boots for your daughter. Just set out some snacks and some ground rules around condition of clothing and let the swapping begin!

2) Go online better you get on line – Running around from store to store or even site to site is time-consuming and not necessarily productive. Save yourself some stress and money at the same time by looking for sites like Coupon.com that aggregate the best back-to-school deals in one place. If you do score some great finds, consider stocking up in advance for next year. Also, if you opt for plain binders, lunchboxes, etc. that could be customized by your kids, they are more likely to last through to the next year or next semester than items with trendy TV, movie or cartoon characters du jour.

3) Downloading and downsize textbook costs – There are a number of sites where you can legally download textbooks and other required reading for FREE. This is great way to lighten the load in that backpack and on your wallet.