That is a good one, but one I found hard to instill. Carrying around a checkbook register is not something many people, especially young ones, really do these days.
I found the kids assume the online balance at their bank is correct. I sometimes think the banks delay updating those as long as possible in order to earn as many debit card overdraft fees as they can.
Not that that lets the kids off the hook for knowing the balance they have in their accounts, but it does stack the deck against them when I assume many banking transactions are instantly updated in the bank processing system.
Laurie Frederiksen Invest with your friends! www.bivio.com
On Thu, Jun 11, 2015 at 12:28 PM, Susan Maciolek wrote:
While it isn't a word, I would include how to use a checkbook and how to balance it every month.
Susan
Be who you are and say what you feel, because those who mind don't matter, and those who matter don't mind.~ Dr. Seuss
:
Charla Hurt on
Our 3 granddaughters have debit cards and the way they keep
track of their spending is to make a note of the amount
spent on their phones which they can record when they get
home or at the end of the day or week. Works for them.
Frank Wilson on
Laurie,
I would recommend our teens of today and their parents check out "ynab.com." They provide great free training videos and inexpensive resources for all the family on budgeting. I've used them for six months now and it has turned the madness of handling family finances into a successful strategy. By the way, "ynab" means "your need a budget."
Frank Wilson
On Thu, Jun 11, 2015 at 11:43 AM, Laurie Frederiksen <laurie@bivio.biz> wrote:
That is a good one, but one I found hard to instill. Carrying around a checkbook register is not something many people, especially young ones, really do these days.
I found the kids assume the online balance at their bank is correct. I sometimes think the banks delay updating those as long as possible in order to earn as many debit card overdraft fees as they can.
Not that that lets the kids off the hook for knowing the balance they have in their accounts, but it does stack the deck against them when I assume many banking transactions are instantly updated in the bank processing system.
Laurie Frederiksen Invest with your friends! www.bivio.com
On Thu, Jun 11, 2015 at 12:28 PM, Susan Maciolek wrote:
While it isn't a word, I would include how to use a checkbook and how to balance it every month.
Susan
Be who you are and say what you feel, because those who mind don't matter, and those who matter don't mind.~ Dr. Seuss
:
Laurie Frederiksen on
Thank you Frank. That looks like an interesting site.
My son also has told me that his bank, Simple provides customers with built in budgeting and tracking features. That is nice because the money is automatically tracked as it is being spent. You don't have to add the transactions to a third party program.
Laurie Frederiksen Invest with your friends! www.bivio.com
On Fri, Jun 12, 2015 at 7:37 AM, Frank Wilson wrote:
Laurie,
I would recommend our teens of today and their parents check out "ynab.com." They provide great free training videos and inexpensive resources for all the family on budgeting. I've used them for six months now and it has turned the madness of handling family finances into a successful strategy. By the way, "ynab" means "your need a budget."