Teaching kids about money during holidays - KPLC 7 News, Lake Charles, Louisiana

Teaching kids about money during holidays

CHARLOTTE, NC (WBTV) -

Many of us had piggy banks when were young, but some were better than others at actually putting coins into it.

So how do you teach kids to become financially responsible?

Financial planning teachers WBTV spoke with say creating incentives and financial habits early in life will pay off in the long run for your children.

These skills set the foundation for a lifetime of better financial choices.

Elementary school teacher Barbara Parks says financial savvy is a critical skill we all need.

"I start off with looking at wants versus needs and then from there we look at how to set goals," said Parks. 

"From there we develop a budget looking at their allowances."

Parks is a fifth grade teacher at Barnette Elementary in Huntersville.

She says Christmas is a perfect opportunity to start a dialogue about family finances.

And one of the best ways to learn about money is hands-on experience.

Start by giving children a small allowance.

Then, if there's a new game, toy, or outfit your child wants - have them save up their allowance, instead of just buying it for them.

A savings account is also a great learning tool for kids. It can help teach responsibility and that some things in life are worth waiting for.

Teachers also recommend including your children in discussion on cost of household expenses such as dinner, groceries and vacations. These discussions give children a sense of real-world prices.

Copyright 2012 WBTV. All rights reserved.

  • More Local NewsNewsMore>>

  • Back-to-school dates in SWLA

    Back-to-school dates in SWLA

    Wednesday, July 26 2017 5:59 PM EDT2017-07-26 21:59:11 GMT
    (Source: KPLC)(Source: KPLC)

    The upcoming school year is fast approaching. Here is a list of back-to-school dates:

    More >>

    The following back-to-school dates are those that KPLC has received: Calcasieu Parish Schools First day of school for regular classes Aug. 15  First day of school for Pre-K classes Aug. 17 Cameron Parish Schools First day of school for students Aug. 15 Jeff Davis Parish Schools First day of school for 1-12 grade Aug. 11 First day of school for Pre-K and Kindergarten Aug. 15 Allen Parish Schools First day of school for students Aug. 9 Beauregard Parish ...

    More >>
  • Port Cameron to bring thousands of jobs to SWLA, generate millions for state

    Port Cameron to bring thousands of jobs to SWLA, generate millions for state

    Wednesday, July 26 2017 5:24 PM EDT2017-07-26 21:24:55 GMT
    Source: Port CameronSource: Port Cameron

    The face of Cameron Parish will soon be changing. Peterson Offshore Group, a Dutch international energy logistics management operator, signed a letter of intent Wednesday with Port Cameron, a to-be colossal deep water energy support complex set to be built in Cameron Parish. Peterson will lease over one-million square feet in Part Cameron's Logistics center. For Ten Falgout, executive director of Port Cameron, Cameron Parish is the perfect location for this project. "I thi...

    More >>

    The face of Cameron Parish will soon be changing. Peterson Offshore Group, a Dutch international energy logistics management operator, signed a letter of intent Wednesday with Port Cameron, a to-be colossal deep water energy support complex set to be built in Cameron Parish. Peterson will lease over one-million square feet in Part Cameron's Logistics center. For Ten Falgout, executive director of Port Cameron, Cameron Parish is the perfect location for this project. "I thi...

    More >>
  • BREAKING

    UPDATE: Two people killed in car crash in Egan identified

    UPDATE: Two people killed in car crash in Egan identified

    Wednesday, July 26 2017 4:17 PM EDT2017-07-26 20:17:08 GMT
    (Source: KPLC)(Source: KPLC)

    Speeding and no seat belt usage is believed to be the cause of two fatalities in a single vehicle crash in Egan Tuesday night according to Master Trooper, Brooks David, with Louisiana State Police Troop I. Kevin Melancon of Calion, Arkansas, and Donna Cormier of Egan, both 44 died in the crash. Melancon was driving a 2013 Chevrolet Camaro on LA 100 when he ran off a curve and struck a culvert. Both Melancon and Cormier were not wearing seat belts, said David. Melanc...

    More >>

    Speeding and no seat belt usage is believed to be the cause of two fatalities in a single vehicle crash in Egan Tuesday night according to Master Trooper, Brooks David, with Louisiana State Police Troop I. Kevin Melancon of Calion, Arkansas, and Donna Cormier of Egan, both 44 died in the crash. Melancon was driving a 2013 Chevrolet Camaro on LA 100 when he ran off a curve and struck a culvert. Both Melancon and Cormier were not wearing seat belts, said David. Melanc...

    More >>
Powered by Frankly