Parents often complain to me that they want to teach their kids about finances and money terms, but they have no idea how to approach them. How do you help your children understand that money can be interesting, relevant and important? Try taking advantage of teachable money moments – those moments when life experiences provide opportunities for you to have a deep discussion with your teen.
Take your teen to the bank with you and introduce her to the tellers. Show her how to fill out a deposit form and wait in line. Talk about the differences between a checking and savings account. Ask her how she would use them to spend and save.
Terms to teach: Checking, savings, deposit, check
Disclaimer: Vanessa Van Petten is working with PASS from American Express on the launch of PASS; however, all content provided by Vanessa Van Petten, including financial tips, are opinions expressed by her alone and not those of American Express or iVillage. American Express and iVillage are not, and should not be relied upon to replace the services of, legal services providers, brokers, tax advisors or financial planners.