Lake Bluff, IL (PRWEB) March 27, 2007
April 24, 2007, Teach Your Child to Save Day, is just around the corner and it is the perfect opportunity to not only teach kids in elementary school the important behavior of saving, but where saving fits into the larger money management picture. "As a former financial services professional and now as an educator, I've learned that you cannot begin too young to develop in kids a sense of delayed gratification and to teach them the crucial life skills associated with responsible money management," explains Susan Beacham, founder and CEO of Money Savvy Generation.
Almost three quarters of parents feel unprepared to teach the basics of personal finance skills to their children, yet they really want this message taught. Teach Your Child to Save Day presents a unique opportunity for banks, credit unions, and other financial service organizations across America to help parents teach their children how to get and stay smart about money. This Teach Your Child to Save Day, share with parents 5 quick money savvy tips:
1) They have choices. There are four choices for money: Save, Spend, Donate, and Invest. Children should be taught that they don't have to spend every dollar they get.
2) They need goals. Saving without a goal is like playing football without touchdowns. No fun!
3) They should pay themselves first. A child should be taught to save a portion of every dollar.
4) They need an allowance. Pay children in cash and let them manage that money. That way they will learn that when money is gone, it's gone.
5) They need good role models. Children are keen observers of parental behavior. So pay bills on time, use cash rather than credit where possible, and take them to the bank when you make a savings deposit.
Money Savvy Generation has worked with all types of financial institutions who want to teach the basics of money management to children. One approach is to introduce a classroom to the company's Money Savvy KidsPersonal Finance Fundamentals featuring the four chambered, award-winning Money Savvy Pigpiggy bank.
For even younger children (kindergarten through grade1), another approach introduces them to the Money Savvy Pig hand puppet who tells personal stories from his own life to convey the importance of saving, spending, donating and investing. Each story takes about 10 to 12 minutes and is accompanied by color images, songs, workbook activities and the "When You're Smart with Money" poem poster.
To learn more about these programs, visit the company's website http://www.msgen.com or call 1.866.390.5959.
About Money Savvy Generation
Money Savvy Generation, http://www.msgen.com, develops innovative products and services to help parents and educators teach kids the skills of basic personal finance. Money Savvy Generation developed the award-winning Money Savvy Pig piggy bank, supporting curriculum - the Money Savvy Kids Basic Personal Finance - for elementary school age children, and the Cash Cache Beginning Personal Finance Organizer for pre-teens and teenagers. Money Savvy Generation also offers a podcast series and a website discussion forum allowing parents and teachers to communicate one-on-one about the topic of financial literacy education for children. Money Savvy Generation was founded in Lake Bluff, IL, in 1999.