From the Center for Financial Services Innovation
First Encounters: Youth and Their First Financial Experiences
All kinds of organizations and institutions play influential roles in the lives of young people. This presents these organizations with an opportunity to promote the development of young peoples' financial capability. Depending on the nature of their relationship, these entities can play a critical role in providing resources and support to help young people establish healthy financial habits. This First Encounter Series outlines recommendations for young people to learn about, choose, and interact with various financial products. Specific recommendations are made for: financial educators, schools, and public officials; financial services providers, community organizations and NGOs; and mono-line credit providers. More
By Dan Kadlec | Nov 8, 2010
WASHINGTON, D.C.//October 6, 2010//Do you want to make sure your kids start out with the right tools they need to be informed investors when they grow up? Do you want them to learn the value of a dollar and why it is important to save? In these difficult financial times, teaching your kids what to do and what not to do when it comes to saving and investing is more important than ever.
Parents can now benefit from a major new resource being made available today from the nonprofit Alliance for Investor Education (AIE) highlighting 10 of the best Web-based resources for parents to teach their kids about how to save and invest in today's tough financial times. The Alliance's new "Teaching Your Kids About Saving and Investing: A Guide for Parents" is available at http://www.investoreducation.org/teachingyourkids.
AIE is the organization of the 20 leading U.S. financial-related foundations, nonprofit organizations, associations and governmental agencies.
Alliance for Investor Education President Dallas Salisbury, who also serves as president and CEO of the Employee Benefit Research Institute (EBRI) and chairman of the American Savings Education Council (ASEC), said: "It is important now more than ever that children learn the important lessons about money. Parents can teach their kids by example and also relay important lessons through the many resources available from trusted financial associations and agencies. We have assembled a collection of these resources for parents. The featured resources include online games, which are a fun way to teach kids financial lessons. Members of the Alliance are devoted to providing resources for parents to share with their kids to teach them the necessary lessons for them to become responsible investors as they grow."
The new "Teaching Your Kids About Saving and Investing: A Guide for Parents" section of the AIE Web site features the following 10 top resources for consumers:
1. Investing ABCs: Teaching Your Children About Stocks – http://tiny.cc/cq9nb, AICPA's 360 Degrees of Financial Literacy.
2. Gen I Revolution - http://tiny.cc/o3stv, Council for Economic Education.
3. A Hitchhiker's Guide to Planning for College Expenses – http://tiny.cc/qxlt8, CFA Institute.
4. Choose to Save: Savingsman Episode 5: Saving Early - http://tiny.cc/1epiw, Employee Benefit Research Institute.
5. Tips for Teaching Students about Saving and Investing - http://tiny.cc/f9sp3, Securities and Exchange Commission.
6. Teach Your Children - http://tiny.cc/xgyow - Certified Financial Planner Board of Standards.
7. The Basics of Saving and Investing - http://tiny.cc/oo6a5, Investor Protection Trust.
8. Cover the Basics Before Your Child Leaves the Nest - http://tiny.cc/k4dr9, National Endowment for Financial Education.
9. Great Minds Think: A Kid's Guide to Money - http://tiny.cc/rtcuo, Board of Governors of the Federal Reserve.
10. Fraud Scene Investigator - http://tiny.cc/5w7ga, North American Securities Administrators Association.
For an overview of the rest of the best investor education resources on the Web from AIE members, go to http://www.investoreducation.org.