Personal Finance
6 tips on educating your teenage child on financial responsibility
By Taby  •  June 30, 2020
Did you know that 24 April 2020 is "Teach your children to save" Day in America? Teaching children how to manage money can be an essential life skill to have. By learning about money since young, people can be able to handle their finances better. Here are 6 tips to kick start your teens' financial education: 1. Teach the value of savings interest by doing savings matching Teach your child the value of interest by matching $x for every dollar they save! This can incentivise your child to save more and mimics an actual savings account if they don't own one yet! 2. Show your teen how to create a monthly budget You can work with your child to create a plan on how they would spend their pocket money for the next month. Teach them the difference between needs and wants, and saving a portion of their allowance...
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By Taby
Taby was started by Jun Yi and Ann Qi in Stockholm under the NUS Overseas colleges, an enterprise arm of the university. During our stint in Sweden, we observed an increasing trend of card and digital payments in Stockholm and across Europe. Further research led us to uncover the prevalence of this wave of payment methods in the U.S. and parts of Asia across different types of markets. Both of us quickly saw the opportunity of this application in the teens market and we decided to form a team consisting of 4 NUS students to make it a reality.
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