By timestaff
August 2, 2013

You’re never too young — or too old — to become more financially literate. Start with this lineup of strategies and tools for youngsters and adults.

Make it fun. “A game can be a spark plug to get kids thinking,” says Dan lannicola of the Financial Literacy Group consulting firm.

One diversion: Tykoon, a free iPhone app that shows your child how payment for small chores can add up to the price of a big-ticket purchase.

Talk the talk. “To kids, money is a foreign language,” says Sabrina Lamb, author of Do I Look Like an ATM? Just as they learn languages best amid native speakers, they’ll get fiscally savvy immersed in talks about money.

One Lamb suggestion: Ask how they think your family could cut costs. Find more topics at moneyasyougrow.org.

Test your smarts. Think you’re an economic know-it-all? Find out for sure on the new Money Quiz section of the congressionally chartered MyMoney.gov website.

Answer a brief set of questions on subjects such as investing and borrowing; if you get anything wrong, you can follow links to online resources for further learning.

Related: Congress May Regulate Financial Planning

You May Like

EDIT POST