Money Smart Week: Making sense out of saving money

MSW Piggy BankRemember when your parents first got you that cute little piggy bank? It was a big deal because it symbolized a financial rite of passage and instilled a growing sense of independence. And after completing a series of mundane tasks or chores you could triumphantly deposit your hard earned money into it at the end of the week.

Some of the earliest life lessons your parents taught you were about saving money, and that piggy bank was a starter tool designed to help guide you to become a financially responsible individual.

MSW Money

Talking to your kids about luxury vs. necessity can be a difficult topic especially if you are trying to maintain a budget for your family. The library has a great selection of books to help you have that important conversation with your kids about making those difficult family decisions to cut costs, save money and maintain a budget.

With the growing dangers of credit card debt for young adults that are starting college, it is important that they know the associated risks with credit cards and have the necessary tools to be money smart adults. This Investopedia article outlines the best time for young people to get a credit card.

Standard & Poor's NetAdvantage

The library also subscribes to Standard & Poor’s NetAdvantage which features McGraw-Hill’s Our Kids & Money website as part of the Making Change Now movement and provides informative articles, tips and tools for helping make kids smarter about money.

For additional books and resources about talking to your kids and teens about saving money, take a look at this list.

Money Smart Week is a national public awareness campaign designed to help consumers better manage their personal finances. This week, The Seattle Public Library is featuring blog posts on financial topics, lists of resources and informative displays in eight library locations. Drop in to the Central library, High Point, Capitol Hill, Beacon Hill, International District, Columbia, Southwest or Greenwood branches and have a look.

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