Teaching your children about money can mean raising entrepeneurs
Many kids today are not content with a part-time job--they're going into business for themselves. Lemonade stands and paper routes have given way to more sophisticated ventures such as candy stores and photography services. Children of the 21st century are becoming entrepeneurs, and they love it. How can you help your children develop good financial instincts? Start by teaching children about money when they are very young. Even preschoolers can learn the difference between pennies, nickels, dimes, and quarters. Allow young children to hand money to the cashier at the grocery store so they begin to understand the basics of commerce. Older children can learn money management through an allowance. As a rule, they should receive enough money to get what they need, plus a little extra to save for the things they want. Reinforce the idea that people have to earn the things they want through commitment and hard work. With money of their own to control, kids can learn to stay within a budget and save for larger purchases.		Suggest that your kids supplement their allowance with odd jobs around the neighborhood--babysitting, mowing lawns, washing cars, etc. Older kids can start a small business of their own by using skills or equipment they already possess. For example, a musically inclined child could give piano lessons, athletic kids can teach others to swim, or a computer whiz can design Web sites for neighbors. Have your children research what services or products are needed and what people are willing to pay for them. Another important lesson to teach during the teen years is how to properly balance a checkbook. This is a fundamental lesson that goes hand-in-hand with budgeting and not out-spending one's means. We also recommend teaching your children about the pitfalls of credit cards when explaining the importance of living within your means. Too often today's teens are consumed with brand names and worry about paying off their purchases down the road.		BRANCHES Boise Branch Office P.O. Box 8145 Boise, ID 83707 (208) 385-5200 Fax:(208) 385-5290 Orlando Branch Office 3305 Lake Breeze Orlando, FL 32808 (407) 292-2006 Fax: (407) 292-2520 Dallas/Ft. Worth Branch 1327 Brown Trail Bedford, TX 76022 (817) 285-8292 Metro Line: (817) 268-6710 Fax: (817) 285-7053 Los Angeles Branch 341 E. Imperial Hwy. Fullerton, CA 92835 (714) 738-4681, (562) 697-1786 Fax: (817) 285-7053 BOARD OF DIRECTORS Bob Baker, Chairman Bill Carter, Vice Chairman Mike Shalz, Treasurer Lary Matthews, Secretary Cynthia Forsch, Member Doug Gibson, Member Gary Morton, Member Shirley Christoffersen, Member Kevan Fenderson, Member MANAGEMENT STAFF Phyllis Thomason, President and Chief Executive Officer Michael S. Vickery, Vice President and Chief Operating Officer Theresa Koenen, Loan Manager Ann Cargile, Loan Servicing Supervisor Chris Demaray, Member Services Supervisor Bonnie Kuhl, Card Services Supervisor Stacey Devereaux, Accounting and Electronic Services Supervisor Leo Francis, Branch Operations and Regulatory Compliance Manager Clem Godin, Orlando Branch Manager Tanya Brumfield, Dallas/Fort Worth Branch Manager Laura Sotelo, Los Angeles Branch Manager