When kids are out of school for summer, it can be hard to come …
Kids & $ - answers to your questions
Financial experts weigh in
Updated: Tuesday, 12 Mar 2013, 2:17 PM EDT
Published : Tuesday, 12 Mar 2013, 2:17 PM EDT
GRAND RAPIDS, Mich. (WOOD) - A mom from Caledonia wants to know how to teach her kids to save money. Francine Gaston of Fifth Third Bank suggests "The three piggy bank method", a way to show children just how much money it takes to make each of the purchases they want to make based on the number of piggy banks you would have to fill to buy them. A dad from Grand Rapids needs advice on teaching the value of a dollar to his daughter. The advice Fifth Third provides is some you can take straight to the bank. One great way to teach your kids to handle and respect money is to set a good example by building an better family budget. Fifth Third's Sayara Crawford outlines five steps for setting a household budget to help you get started:
1. Determine monthly income
2. Set aside 10% - pay yourself first
3. Add up all of your expenses
4. See what is remaining and start a "rainy day" fund
5. Anything left over can be used for splurge items.
When kids are out of school for summer, it can be hard to come up with ideas to keep them entertained. A …
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About the Author:
Maranda joined WOOD TV8, WOTV 4 and WXSP TV in January of 2001 as Children and Family Services Manager, but has served the community as an advocate for kids and families for over 20 years.
More About Maranda »
Maranda joined WOOD TV8, WOTV 4 and WXSP TV in January of 2001 as Children and Family Services Manager, but has served the community as an advocate for kids and families for over 20 years.
More About Maranda »
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