Sunday, May 2, 2010

Kids investing

After starting this blog, I started thinking that I needed to also get my kids on their way to saving. So we decided to start each kid their own sharebuilder account. They both got $50 for opening an account (which is a several months savings for them). We then are having them saving half of their allowance and then we match that half.

I then have them choose a stock that they are familiar with - like Disney or Hershey or some toy company - and have them invest in that stock. I am only investing every other month with them, to make the cost of investing worth it (We just pay the $4 fee), but at least they are learning an early lesson about saving and investing.

So how do you teach your kids about saving? I think it is a VERY important lesson for kids to learn early on and I am curious about what other methods people are using. Everyone has their own way of teaching their kids and I think as long as you are teaching them to save, it is a great thing! I am always looking for new ideas/ways of teaching them to save...

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