| Survey Finds Experience is Best Financial Educator for Teens A 2008 survey released by The Charles Schwab Corporation has shown that teens want to take on the responsibility of learning first hand. The survey, which states that around two-thirds (64%) of teens would prefer to be guided in the ways of money through experience, is a new stepping stone in convincing parents that they need to teach their children the important basics before they leave the home. The No-Cash Allowance is a guide for parents to provide that money experience at home. In today’s world, money management is an elusive skill that does not easily fit our idea of learning. It is not learned in one session, or man y sessions. Nor is it learned through workbooks, lectures or videos. Learning to manage money is a skill that evolves over time. The No Cash Allowance provides a structure and process that will help your child learn how to manage money in a day-to-day setting, just like you do. Money will continue to change. The way we use money will also change. What will not change is the role of money in our lives. The ability to control one’s money provides the power to make choices. As in life in general, power without responsibility can be dangerous. Yet responsibility without control is unrewarding and frustrating. Managing money is a combination of knowledge and practice. One without the other is ineffective. Children learn by playing—a child’s play is practice. Money management techniques learned by practicing with the no-cash allowance let a child gain knowledge about the complexities and realities of money. One might say we created this as a game using money. Perhaps that is true, but isn’t life itself a game? As for learning about money we believed that practice was the best teacher. |
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Paperback, 5.5. x. 8.5, 120 pgs. Index.
Table of Contents, Charts, statistics and examples Activities and definitions |
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