FINANCE

FINANCE

Helpful tips

The Ohio Tuition Trust Authority advises there are many ways to educate children about money. It offers these suggestions:

Lead by example. Children observe how their parents handle money, and setting a good example may encourage children to be more responsible.

Assess what your child knows. Explaining how credit cards and savings accounts work can help children understand how money works.

Find teachable moments. Teach children the value of a dollar and how to make it stretch. One example is to involve them in grocery shopping. Set a spending limit, allow them to plan meals and shop for ingredients.

Source: The Ohio Tuition Trust Authority