Financial Literacy Advice From Around the Web
A look at tips from a few of our favorite personal finance bloggers on improving your finances.
Money management classes alone won't help children achieve financial literacy, writes Luke Landes in a recent post on his Consumerism Commentary blog. What kids really need are role models to learn good financial behavior (see Financial Role Models vs. Money Classes). "Teachers can work hard to pass knowledge onto their students, but if those students see behavior that reinforces the opposite, or if they see their role models at home not prioritizing education, and in particular, an understanding of financial skills, those school lessons will lose their efficacy," Landes writes. "Skills and knowledge need to be constantly reinforced to stick."
Kiplinger's Editor and Money Smart Kids columnist Janet Bodnar also recently wrote about the importance of financial role models for children. See her advice for parents on how to set a good example for their children when it comes to money. And here's a roundup of more financial literacy advice from personal finance bloggers:
How to Use a Positive Attitude to Change Bad Financial Habits [Money Crashers] "Every time you choose to save your money for a future reward, such as a down-payment on a home or sending a child to college, your brain learns that saving is good."
Want to Organize Your Finances? Try the Sock Drawer Method [LearnVest] "Sure, an overhaul of your money seems too overwhelming to tackle all at once, but what if you started with just one small task—your 'financial sock drawer'?"
How Can I Become Financially Independent? [The Simple Dollar] "Every frivolous thing you throw your money at pushes financial independence further and further away and, if you have a low income, every little bit matters."
My 13-Year-Old Daughter Shares Her Financial Fears [Len Penzo dot Com] "I’m only 13 and I’m worrying about my future. Not in an academic kind of way, but in a financial one."