Raising Financially Savvy Kids - with Farnoosh Torabi from Remake America

A few weeks ago, I was invited to attend a blogger get-together and met Erin Guererro, who is being featured on Remake America

Erin Guerrero’s Story
Last October, Erin realized she couldn’t afford Christmas presents for her children and her bills were piling up so in order to pay her mortgage payments on time and make ends meet Erin decided to live with another single mother.  Around this time Erin found out about Remake America, a newYahoo! News weekly video series.  Erin is hopeful that things will change for the better; she has created a group of single moms that get together every week for “coffee talk”.  They talk about their struggles and give each other advice.  Erin, who shops at goodwill for herself and her children, has begun to shop for others picking up different pieces of clothing and then bringing them home and creating outfits for single moms

Erin has been working with Farnoosh Torabi, Yahoo!’s Personal Finance Expert,  who shares four key tips on “How to Raise Financially Savvy Kids” with the families of Yahoo! Newsnew reality web series “Remake America.”

Here are a few of Farnoosh’s tips:

1)      Involve your kids in financial activities, talk about why you are cutting the coupons out for the grocery store
2)      Teach your kids the meaning of cash, use the famous quote “money doesn’t grow on trees”, use another form of payment other than your debit or cred it card
3)      Kids learn about money from you, be mindful when paying bills, organize them into piles and have due dates
4)      Kids should earn allowances, give your children meaningful responsibilities besides cleaning their room, have them help siblings with homework, cut the grass or wash the car

Want to learn more about  Remake America?

Yahoo’s new weekly video series that follows the lives of real families as they strive to get back on track towards achieving “the American dream.” The reality series will offer a lens, through the eyes of real families, into the political issues at the forefront of the 2012 elections, including the impact of unemployment, healthcare, veteran affairs, and the housing market.  “Remake America” will also team up with U.S. charities to aid the six families that appear on “Remake America” and others like them. Through these charities, viewers will have an opportunity to find resources and expert advice, as well as support other families in similar situations across the U.S.  For more visit http://news.yahoo.com/elections/remake-america/