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Everything You Wanted to Know about Kids and Saving, But You Were Afraid to Ask

Everything Your Wanted to Know about Kids and Saving, But You Were Afraid to Ask

Every parent knows kids should learn how to save, right?

OK, then, answer me this: how come only 1 percent of parents say their kids save any of their allowance?

Maybe parents have lots of questions about kids and saving, but they’re just afraid to ask.

That’s why we took to the Twittersphere with our friends @GiftOfCollege earlier this month. We posed 9 key questions about teaching kids to save, starting with the most basic: why?

Here are the 9 questions and an edited summary of the top answers.

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Teach Your Kids How to Detect Phishing Attacks

Teach Kids How to Detect Phishing

Do your kids have access to email or text messages?

Then it’s time to teach them about “phishing” — sneaky attempts to extract sensitive personal information like usernames, passwords, account numbers, etc.

For example, suppose your child gets the following text message out of the blue:

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81 Money Lessons Your Kids Will Wish You Had Taught Them 25 Years From Now

Money Lessons Your Kids Wish You Had Taught Them 25 Years From Now

How can we as parents know we’re teaching our kids the right things about money? That’s a tough question. There’s lots of potential ground to cover, and it can be hard to cull out what’s truly important.

What if you could jump in a time machine, set the dial forward 25 years, blast into the future, and ask your children — now grown adults — what they wish they had learned from you about money? Answers in hand, you could just travel back in time and make sure you carefully covered those bases.

Obviously, that’s not going to happen, but I might have the next best thing for you. What if you could corral a whole bunch of thoughtful, accomplished, even famous adults and collect their answers to the following question: