Tips for Raising Money-Smart Kids

The Fauquier Bank (TFB) believes that financial education is a top priority, which is why we are teaming up with the Virginia Bankers Association (VBA) to celebrate Financial Literacy Month!

Teaching children about money may seem challenging, but it is actually quite simple. “Look for opportunities to talk about money, read books aloud and play games that center around spending money wisely. Be open and honest when you discuss your financial experiences—good or bad,” says Bruce Whitehurst, VBA president and CEO.

Throughout the month of April, we will be releasing tips on financial literacy for all age groups.

Tips for Raising Money-Smart Kids:

Be the example because children tend to emulate their parents’ money habits. Be sure that you are paying bills on time, saving money, and a conscientious spender.
Be open about money. Children are full of questions and curiosity, so use it to your advantage and encourage your child(ren) to ask money questions. We encourage you to answer the questions honestly even if they are hard.
Explain needs versus wants. Why is it important to separate the two and what are the consequences if we do not? TFB offers a wonderful financial literacy class for young children. Reach out to us for more information on setting up your own financial literacy class for your class, church, troop, etc. We also offer bank tours!
Open a savings account for your child(ren).
Tell friends and family about your child(ren)’s savings goals.
Put literacy in financial literacy. We encourage you to read books about various money concepts with children. Join us in the Virginia Reads One Book program as we read Cleo Edison Oliver: Playground Millionaire by Sundee T. Frazier.
Don’t be a fool this April 1st. Start your journey to financial literacy today!

Interested in a financial literacy class? Email us today to get started at moreinfo@tfb.bank.

-TFB