The article that I have chosen is “Why You Should Tell Your Children How Much You Make”. The sooner that children have a concept of money the quicker it will trigger how they will manage the money when they become teenagers and begin to work (McAuley, 2015). As adults we avoid answering questions where the money comes from to our children. Teaching this concept earlier in life can assist with earlier financial management.
As your child begins school as early as kindergarten there is plenty to be learned about money. Children should know that money is used to buy things, it is earned by working, at times we must wait before purchasing something we really want, and there are differences between our wants and needs (Williams, 2015). Giving children a concept of reality facilitates the parents’ responsibility. There is an old saying a penny saved is a penny earned,
The sources for these two articles are credible since there are publications from different sources such as U.S. News and also N.Y Times. These publications are from reputable financial sectors. There are studies conducted with different testimonials demonstrating how important teaching finances as early as childhood can be towards financial management. These sources contain a knowledge base about finances.
Blogging has become a part of our lives. It is hard to depict if all of the information we receive in blogs is true. A variation of scholarly research alongside with blogging may be beneficial. In the Article 7 Smart Things to Teach Kids about Money there are many factors in place. There is money comes from work, when it’s gone, it’s gone, It’s Ok to wait, It’s not all about you, Tell your money where to go, don’t buy things you can afford, and also there is choose contentment (Soukup, 2014). As far as this blog is concerned there is not much of a difference in the advice given from the financial experts. There is just the blogging section where there is much debate (comment section). There will always be the mom that says the son has to do chores first, the children with allowances, and the children that get everything that they want.
With social media at our fingertips and so much information constantly available there is no doubt that we have become social media dependent. There is Facebook to post pics and interesting articles and pictures. There is also the worldwide web with news at our reach through sites such as google, Bing, and yahoo which is spreading information such a fast pace that we are able to access the information immediately.
Liesder, R (2014). Why You Should Tell Your Children How Much You Make. Retrieved from: http://www.nytimes.com/2015/02/01/your-money/why-you-should-tell-your-kids-how-much-you-make.html?_r=0
Soukup, R. (2014) 7 Smart Things To Teach Kids About Money. Retrieved from: http://www.livingwellspendingless.com/2014/04/18/7-ways-teach-kids-money/
Williams, G (2015). What Your Child Should Know About Money By Key Ages. Retrieved from: http://money.usnews.com/money/personal-finance/articles/2015/01/16/what-your-child-should-know-about-money-by-key-ages