National Effort Aims to Teach Kids How to Save [AUDIO]
ST. CLOUD — Kids around the country are learning important lessons in saving money Tuesday.
The 17th annual National Teach Children to Save Day is looking to reach kids at a young age, with hopes of promoting good money practices.
Bruce Helmer is the founder of Wealth Enhancement Group. He says the program is important because few kids are learning financial lessons in school.
Helmer says parents shouldn’t be afraid to talk about money with kids. He adds that you’re never too old to learn about money or good saving habits.
Helmer says there are tools that exist that parents can use to teach money issues to kids.
Helmer says giving kids an allowance and letting them handle money can teach life-long lessons.
A list of additional basic tips for parents include setting up a savings account, investing in simple mutual funds and even opening an Roth IRA when the child begins to earn an income.
“There is no better long-term investment vehicle than a Roth IRA,” said Helmer.
You can hear Helmer’s “Your Money” program from 8:30 to 10 a.m. every Sunday morning, by listening to AM 1240 WJON.