Helpful links for Parents and Grandparents to use in teaching kids about money! Brought to you by:

In 2006, the personal savings rate dropped to a negative 1 percent, its lowest level in 73 years. The negative rate means people are generally spending all the money they make....and then some....dipping into savings or increasing borrowing to finance purchases. There have been only four years in history that the savings rate has fallen into negative territory. The other two were 1932 and 1933 during the Great Depression.     Savings basically setting money aside in our monthly budget to meet short-term goals.  Savings includes an emergency fund for those "just in case" times that come along more often than we wish. To increase the safety, soundness and security of our financial future, we need to be prepared financially to deal with "dents and dings" we encounter on the road of life.

Livin' Large: Savings and Investing Be consistent when establishing a savings routine.  Even small amounts will grow if you save often! Diversify your savings and investments portfolio.  Using a broad-based strategy for savings and investing will increase your ability to build wealth. Remember your long-term goals.  By keeping your focus on future wants and needs, you will be more motivated to save and less likely to make unnecessary purchases. Make informed choices when choosing your investments and your financial advisors.  A little investigation today may save you thousands of dollars tomorrow. Tomorrow will not take care of itself.  Social security and other government programs are supplemental; relying only on them for your retirement will require you to make significant changes in your life style.  Besides social security and other government benefits cannot be passed along to future generations. Paying yourself is just as important as paying other bills.  Set up a savings routine by having money automatically transferred into a savings account each month. Be sure you get all of your match from an employer.  Anything less than the maximum is like throwing money away -- and no one wants to do that. It's okay to take a risk, but take an educate, informed risk.  After all, it's your money and your future. The interest rate on your savings represents the return on your money.  If that return is less than the inflation rate, you are losing money each year.  Rethink your savings and investing options to protect your future earnings. Paying off debt as soon as possible may be your best savings plan.  Continuing to pay high interest rates on credit cards will quickly erode any financial future.  Work with a financial planner or counselor to minimize your debt load as soon as possible, increasing your contributions to savings and investment accounts as you reduce the amount paid to others. Source: Money Rocks, Sue Lynn Sasser and Randall Ice, Copyright © 2006

 Books, lessons and links

Other Educational Sites

• NCEE Online Lessons - http://www.ncee.net/resources/lessons.php - Search a database of 541 free lessons by grade level, economic concept or national standard. The site currently has 23 lessons related to savings!
   
• Get the Facts: The SEC's Roadmap to Saving and Investing - http://www.sec.gov/investor/pubs/roadmap.htm - Knowing how to secure your financial well-being is one of the most important things you’ll ever need in life. You don’t have to be a genius to do it. You just need to know a few basics, form a plan, and be ready to stick to it. No matter how much or little money you have, the important thing is to educate yourself about your opportunities.
   
• Teaching Children Money Habits for Life - http://www.extension.umn.edu/distribution/youthdevelopment/DA6116.html - This Web site presents some helpful guidelines and suggestions parents may follow to teach their children about money. It provides general background and outlines by age group and stage of development children's understanding and use of money as well as conflicts about money. It also identifies activities you can use.
   
• Six Simple Steps to Get Your Kids Started on a Savings Plan - http://www.mfea.com/InvestmentStrategies/KidsCollege/InvestingForKids/SchwabSixSimpleSteps.pdf
   
• U. S. Treasury - http://www.treas.gov/kids/ - Gain access to a variety of U.S. Government Web sites for kids, including the White House, Bureau of Printing and Engraving, Savings Bonds, and more!
   
• The Mint - http://www.themint.org/ - The Mint Web site is packed with all kinds of tips about what to do with your money. Because the plain fact is — YOU'VE GOT CHOICES.
   
• Fedville - http://www.frbsf.org/education/fedville/ - Fedville is a friendly town built just for kids with something to learn on every corner. Kids can even open a savings account at the local bank and watch their money grow.
   
• Oklahoma College Savings Plan - http://www.ok4saving.org/ - Administered by the Oklahoma State Treasurer, the Oklahoma College Savings Plan (OCSP) gives you a way to start saving today to prepare for a child's tomorrow.
   
• Savings Calculators - http://www.bankrate.com/brm/calc/savecalc.asp - Enter how much you have, how long you will save and at what rate, and find out how your nest egg will grow.
   
• Time Machine - http://www.usmint.gov/kids/timeMachine/ - Explore events occurring on a timeline that begins in 1667 though today.
   
• Moneyopolis - http://www.moneyopolis.org/new/home.asp - Where money sense rules!
   
• Wise Pockets - http://www.umsl.edu/~wpockets/index.html - A great place for kids, parents, and teachers to learn about managing money.
   
• Teaching Children to Save - http://www.win.net/econky/parents/parentscorner/teaching.html - Tips from the Kentucky Council on Economic Education on how to teach young children to save.
   
• Money Central Station - http://www.moneyfactory.gov/kids/start.html
   
• Teaching Children and Teens about Money - http://www.moneyinstructor.com/art/teachchildren.asp - The earlier you can teach a child about earning interest versus paying it, the better prepared they will be to manage their own money.
   
• U.S. Savings Bonds On-line - http://www.savingsbonds.gov/ - Purchase electronic securities directly from the U.S. Treasury. This site also offers calculators for determining the current value of your savings bonds.

OCEE Web site    Books, lessons and links