Whatever your profession might be, Medallion School Partnerships sm knows the most challenging part of your job is being a parent. But getting to the rewards can often take you down a bumpy road. To help smooth things out along the way, Medallion plans each month to provide you with parenting tips, tools for keeping children safe and ideas for strengthening the relationship you have with your school-age child. They observe their parents' spending habits and financial attitudes, and are influenced by their friends, advertisements and even the attitudes of society as a whole. With so many conflicting messages, it has become increasingly important for parents and teachers to begin teaching financial concepts when children are young, to help them understand at an early age the value of saving and maintaining a budget.
Children enjoy collecting things, so address saving in terms of collecting.
Just as they might collect stickers or baseball cards, they can collect coins and dollar bills. Preschool children want to handle and count their collection, so provide your child with a bank that can be opened easily. To stress the importance of saving, parents may want to give school-age children an allowance. For a child, an allowance is his or her first experience with money management. Parents should try not to be too nostalgic when considering the amount.