Sunday, August 29, 2010

Ask the Experts: Kids and Money

Bank of Dad blogger Dan Kadlec joins Jill Schlesinger and Jack Otter to discuss raising financially-savvy kids.

I find it intriguing when he explains that poker is a great financial tool. Sure, mastering poker means learning risk management and statistical analysis but I won't take the risk of using poker to educate my kid about money management. I can't say I will be proud if he turns out to be a professional gambler.

In any case, it is great to get new ideas from other parents. Bringing money into conversations with kids is never the easiest task. Either they are plain not interested or they don't yet appreciate your intentions. And schools aren't doing enough about teaching personal finance.

No matter how difficult it is , parents have to try their best to jumpstart their kids' financial literacy. What have you done to educate your kids? Will you use poker as a tool?