Moderator: David McCurrach
Founder - Kids' Money
David McCurrach is the founder of Kids' Money. His professional background involves extensive research into the area of the financial education and the financial vulnerability of children. David ...
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David McCurrach is the founder of Kids' Money. His professional background involves extensive research into the area of the financial education and the financial vulnerability of children. David also manages a community credit union and is President of his local Civitan Club. The Kids' Money website is just the start of his efforts to make a significant contribution in helping parents, schools, and organizations foster responsible money management habits in children. His current projects include incorporating Kids' Money as a non-profit organization, expanding the scope of the Kids' Money website from parents to teachers, organizations and international initiatives, and developing an online money management program for parents to use with their kids. David is also engaged in creating workshops based on his book, "Allowance Magic: Turn Your Kids Into Money Wizards," as well as writing "Penny, Penny" -â?? an early reading book for toddlers. He has five children and is expecting his seventh grandchild. hide
visit: http://www.kidsmoney.org
The Competition
Advertisers hope to have children brand aware by age three. Their research has shown that children as young as six months can begin to form mental images of corporate logos and mascots. And these advertisers are aggressive in their efforts: Children are exposed to 1.2 million advertising messages a year. That's over 3,000 messages a day. It's intended to have an effect -- and it does!A quarter of a century ago, advertisers spent a mere $100 million a year marketing to kids. Today, American companies spent $17 billion annually on advertising aimed at children. That's the competition. Can you handle it? Waiting to teach your child about money until they can understand the concept of money -- the fact that it can be exchanged for goods and services (typically around age three) -- definitely puts you behind the power curve. If you want to take on the advertisers, you'll need to start introducing your child to basic financial principals at an early age. Granted, they will not full...
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Often the first example of financial responsibility that children are exposed to comes from their parents. As children get older and learn about money, they also watch their parents react to bills, notice their parents' shopping habits, and realize that sometimes money must be saved rather than spent. In many instances, parents try to teach their children about the value of money. But at what age should we teach our kids about money? And how do we go about teaching them something that we're still trying to figure out ourselves? These questions are best answered by David McCurrach, a fellow parent and money management expert who shares his insights about the importance of children's financial education.