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September 16, 2005
Teaching Kids About Money
ING Direct operates a fun site designed to teach kids about money called Planet Orange .
A lot of the content isn't exactly rocket science -- for example, it will take Ashley three months to save enough for a $100 skateboard if she saves $10 a week and only a little over a month if she saves $20 a week. But the anecdotes and illustrations are clever and it makes a handy way to introduce your child to the concept of budgeting.
My guess is the site would have the most appeal to kids in the 10-to-15 age range. But, come to think of it, saving $10 a week for a luxury purchase is an strategy I could use myself!
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That's really cool. More banks should take lessons from them.
There's this interesting site out there www.break-the-bank.org that's taking comments about the good and bad experiences had with banks.
You should check it out.
Posted by: blp at October 7, 2005 08:04 PM
"Really great idea. It's very inportant to learn children to spend their money! But without guidance, they may never learn to spend it responsibly, and to balance short term with long term goals.
This will help children learn about budgeting, as well as give them a clear idea of their family's financial picture."
Posted by: Steph_B at October 25, 2005 01:56 PM