Prajna Capital - An Investment Guide

Using toy piggy banks and cash registers, while older kids can learn to manage cash and pretend to be real estate moguls by playing Monopoly. To get a taste of trading stocks and mutual funds, there are online games and contests, as well as investment clubs. The first step for parents, say financial planners, is to start talking about money matters at home. “Having conversations about money at a young age lays a good foundation. With the right lessons and planning, your kids, as they grow older, may be able to avoid money traps like getting deep in debt from those alluring but deceptive Credit Card offers and embrace sound strategies as they save for big purchases such as graduate school, car, and a home. A PENNY SAVED IS A PENNY EARNED Parents can start teaching kids about earning money as early as elementary school, Silverman says. Set a weekly or monthly allowance for chores done around the house, and offer extra for helping neighbors and performing other tasks. Then show your kids...