Analysis Of Holder And Kenneth Meeks ' Article, Teach Your Children The Building Block Of Finance

1139 Words Nov 8th, 2016 5 Pages
Sherie Holder and Kenneth Meeks’ article, “Teach your Children the Building Block of Finance” presented stories about different families who are guiding their children through the path of finance. Holder and Meeks discuss the value of money and the importance of teaching to children at an early age the right attitude towards money, determining how they would use it in their lives. They also acknowledge that budgeting is an established boundary towards finance and just how children can keep track of their own spending to understand the inflow and the outflow of money. Holder and Meeks also bring out techniques to encourage young children to divide money in different categories by either starting off with a piggy bank, then following to creating a small budget and lastly allowing them to make their own decisions in their finances once becoming a teen. However, they also mention the start of entrepreneurship where the child doesn’t get a weekly allowance but is encouraged to work and save money to recognize financial sacrifices. Involving their child how to pay bills giving them a sense of household expense and demonstrating a specific amount to what is left on the parents account after paying their necessities. The article not only mentions entrepreneurship as a good teaching skill in a child’s finance, but exposing them to a custodial account or introducing them to tax deferred investments can help them in the future. The writers also emphasize in implementing family meetings…

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