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Website Launched to Help Parents Teach Their Children About Money

WEBWIRE has launched in an effort to help parents raise financially literate children. The goal of the site is to give parents advice on various ways to teach kids about money. The site covers topics such as savings accounts for kids, money management for teenagers, and a section on games and activities that explain money management to children.

In addition to helping to train kids about saving money, also provides information covering the college savings fund choices and counsel on choosing the appropriate checking and savings accounts for their children.

“You can see with the current state of our economy that it is important to raise a generation of children that are financially literate. The days of living beyond your means has caught up with us and we need to make sure that our children do not continue the pattern,” says Michael T. Scott the founder of the site.

A recent study by the Brookings Institute found that nearly half of those surveyed stated that they more than likely could not come up with $2,000 in 30 days. This unsettling revelation has shown how many Americans are not preparing for their retirement or saving money.

Another study by the National Foundation for Credit Counseling found that only 36 percent of those surveyed stated that they would not take money out of their savings to come up with $1,000 in an emergency. Many stated they would look to other means such as borrowing money from friends or neglecting other bills to obtain the $1,000. hopes to address these issues by providing guidance to parents on instilling saving and investing into their children.

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