Money Tips for Four, Six and Ten Year Olds Prescott AZ
As you follow the 10/10/10/70 concept, be consistent with depositing money monthly. Every month your child will start to see how their money starts working for them, your child will start to see the power of interest, compounding and the special gift that all children have, which is time.
Janie Strasser
Ponderosa Wealth Management
(928) 777-2381
1129 Iron Springs Road
Prescott, AZ
Janie Strasser
Ponderosa Wealth Management
(928) 777-2381
1129 Iron Springs Road
Prescott, AZ 86305
Expertises
Planning Issues for Business Owners, Ongoing Investment Management, Tax Planning, Retirement Plan Investment Advice
Certifications
NAPFA Registered Financial Advisor, CFP®, CPA, MBA
Data Provided by:
Wells Fargo - Miller Valley
928-445-0593
825 Miller Valley Rd
Prescott, AZ
Wells Fargo - Miller Valley
928-445-0593
825 Miller Valley Rd
Prescott, AZ 86301
Office Hours
Mon-Fri 08:00 AM-06:00 PM
Sat 09:00 AM-04:00 PM
Sun Closed
Wells Fargo - Cortez
928-445-0358
202 N Cortez St
Prescott, AZ
Wells Fargo - Cortez
928-445-0358
202 N Cortez St
Prescott, AZ 86301
Office Hours
Mon-Fri 08:00 AM-06:00 PM
Sat 08:00 AM-04:00 PM
Sun Closed
Bank of America - Willow Creek
928.445.7206
1030 Willow Creek Rd
Prescott, AZ
Bank of America - Willow Creek
928.445.7206
1030 Willow Creek Rd
Prescott, AZ 86301
Services
Banking Center Services: Commercial Deposits, Night Deposits
Indoor ATM Services: Open 24 Hours, Talking ATM, Braille, Accepts Deposits, Deposit Image
Outdoor ATM Services: Open 24 Hours, Talking ATM, Braille, Accepts Deposits, Drive Up, Deposit Image
Languages
English, Spanish, Chinese, Korean, French, Russian, Portuguese
Office Hours
Monday 9-5
Tuesday 9-5
Wednesday 9-5
Thursday 9-5
Friday 9-6
Saturday 9-1
Sunday Closed
Wells Fargo - Willow Creek & Sandretto
928-771-3770
3186 Willow Creek Rd
Prescott, AZ
Wells Fargo - Willow Creek & Sandretto
928-771-3770
3186 Willow Creek Rd
Prescott, AZ 86301
Office Hours
Mon-Fri 09:00 AM-06:00 PM
Sat 09:00 AM-04:00 PM
Sun Closed
Bank of America - Downtown Prescott
928.778.1350
301 W Gurley St
Prescott, AZ
Bank of America - Downtown Prescott
928.778.1350
301 W Gurley St
Prescott, AZ 86301
Services
Banking Center Services: Commercial Deposits, Night Deposits
Outdoor ATM Services: Open 24 Hours, Talking ATM, Braille, Accepts Deposits, Drive Up, Deposit Image
Languages
English, Spanish, Chinese, Korean, French, Russian, Portuguese
Office Hours
Monday 9-5
Tuesday 9-5
Wednesday 9-5
Thursday 9-5
Friday 9-6
Saturday 9-1
Sunday Closed
Wells Fargo - Frontier Village
928-778-9241
1871 E State Rt 69
Prescott, AZ
Wells Fargo - Frontier Village
928-778-9241
1871 E State Rt 69
Prescott, AZ 86301
Office Hours
Mon-Thu 09:00 AM-05:00 PM
Fri 09:00 AM-06:00 PM
Sat 09:00 AM-01:00 PM
Sun Closed
US Bank - Prescott AZ Office
(928) 771-8585
3030 E Hwy 69
Prescott, AZ
US Bank - Prescott AZ Office
(928) 771-8585
3030 E Hwy 69
Prescott, AZ 86301
Chase Bank
(928) 778-0727
3198 Willow Creek Rd
Prescott, AZ
Chase Bank
(928) 778-0727
3198 Willow Creek Rd
Prescott, AZ 86301
Office Hours
Mon:9:00-7:00
Tues:9:00-7:00
Wed:9:00-7:00
Thurs:9:00-7:00
Fri:9:00-7:00
Sat:9:00-4:00
Sun:closed
Wells Fargo - Prescott Valley
928-772-8220
7520 E State Rte 69
Prescott Valley, AZ
Wells Fargo - Prescott Valley
928-772-8220
7520 E State Rte 69
Prescott Valley, AZ 86314
Office Hours
Mon-Fri 08:00 AM-06:00 PM
Sat 08:00 AM-04:00 PM
Sun Closed
Data Provided by:
Provided By: 
Money, Taxes & Small Business
Money Tips for Four, Six and Ten Year Olds
By Lori Mackey
Email
Mar 29, 2007, 23:09
|
Your adult habits form in childhood, if a child starts the habit of taking a dollar and spending a dollar, that child is learning the habit of living paycheck to paycheck. But, if a child creates the habit of dividing their money before they spend, this will be as natural as walking and talking.
If a four year old takes a dollar and saves 10 cents for giving, saves 10 cents for investing, saves 10 cents for savings and takes the 70 cents and spends it wisely and practices this habit with every dollar, they automatically will have a head start with their financial future.
At the age of six, start implementing the allowance system, give each child chores and responsibilities that are expected everyday, some activities they will earn money for and some are expected because they are part of the family. You can use chores to break bad habits, teach independence, and the concept of earning.
Make a habit of allowing your child to bring their earned income to the market, store or mall, if they find something they want and ask you to buy it for them, just say, Yes, you can have that, but you need to use your own money. The typical response will be, But I do not want to waste my money! And, you respond with, Well, I don t want to waste mine either.
10 year olds are motivated by money, if you start teaching kids the power of investing and saving their money, they will listen intently. Go online and show your child investment calculators. Show them what the $50.00 video game would be worth in 55 years if they invested the $50.00 instead of spending it. The key is to show kids the power of invested money. Once kids see how money works, they will think twice before spending their money.
As you follow the 10/10/10/70 concept, be consistent with depositing money monthly. Every month your child will start to see how their money starts working for them, your child will start to see the power of interest, compounding and the special gift that all children have, which is time!
No matter how old your child is, it is never too late to start teaching them the value of money and how it can work in their favor.
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Lori Mackey, an award-winning author, founder of Prosperity4Kids, Inc., is recognized as a leading expert ...
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