Tips For Raising Financially Savvy Girls

Tips For Raising Financially Savvy Girls

Coming from a family of bankers, I remember budgeting my weekly allowance from a very early age. I had different envelopes for gifts, treats, giving, and saving. There are many sites out there telling us how to raise financially-savvy kids and at girlsinc.com I found a great list of tips on how to raise a money-wise girl –maybe we can even learn from it:

Use allowance as a lesson in money management. Decide together how much to spend right away and how much to save for later. Set short- and long-term saving goals.

Encourage interests that lead to careers. If your daughter loves computers, introduce her to a programmer. If she enjoys writing, help her meet a journalist. Let her know that her interests today could lead to a rewarding career.

Openly discuss family finances. Show girls that financial planning is part of everyday life. Talk about your income, expenses and family budget. Try balancing your checkbook together.

Watch TV together and discuss images of wealth and gender. Are rich and successful female characters portrayed as friendly and productive or are they greedy and self-centered? Count how many times your favorite characters change their clothes. Do they need such a large wardrobe?

Use the Sunday classified ads to talk about salaries, the cost of renting an apartment and buying a car. Create a scenario for your daughter to pick her favorite job. How much money would she make? What apartment would she rent? What car could she afford to buy?

Discuss how advertisements try to convince you to buy products. Examine what information you really receive about the product. Notice the words they use to describe it. What types of people are seen using or suggesting the product?

Debunk the myth of Prince Charming. Most women will work for pay for a large proportion of their adult lives and need to be responsible money managers.

Encourage girls in math. Compare the cost of the advertised brand of cereal and a bargain brand. What does each cost per serving? How much is a tank of regular gas compared to premium? At the supermarket, ask her to calculate how much money the family could save by using coupons.

Play an investment game together. Pretend to buy shares of a stock in a favorite fast food restaurant, toy store or other fun company. Watch its growth and/or decline and graph it over time

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