Maybe your son is saving money to buy a car but has no idea how much insurance would run along with interest on a loan to be taken out. Or your daughter wants to know what’s the big deal about earning interest on her bank account.
You could sit down with your kids and try to explain these pocketbook topics, or do a quick online search for textbook definitions of everyday financial concepts.
You can also turn to Napkin Finance — a free website that can explain the complicated terminology in a creative and entertaining way. Read More