Questions to raise with your kids – Fast Lane
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Questions to raise with your kids

Helpful questions to raise with your kids on topics ranging from Earning Income to Using Credit.

Earning Income

  • Does my kid know the average income for a job they would like to get?
  • Can my kid make decisions about the costs of education and how much they will earn by attaining that education?
  • Does my kid have a general idea of what income taxes are?

Buying Goods and Services

  • Is my kid aware of their spending and the value of money?
  • Can my kid comparison shop?
  • Does my kid do research before making a large purchase (e.g., learning about the product or the company producing the goods/services)?
  • Can my kid make informed decisions about a purchase? For example, can they determine if it would be better to lease or buy a good?

Saving

  • Does my kid know the value of saving now to have a greater amount in the future?
  • Does my kid understand that what money can buy today will be less in the future because of inflation?

Using Credit

  • Does my kid understand the cost of credit? Do they understand how interest rates work and when fees may be incurred?
  • Does my kid know what a credit score is and what may influence that score?
  • Can my kid determine when using credit may be to their advantage or disadvantage?

Financial Investing

  • Does my kid understand that there is a tradeoff between risk and return?
  • Does my kid understand what risk diversification is?

Protecting and Insuring

  • Does my kid know what types of insurance exist?
  • Does my kid have a general understanding of why people get insured?
  • Does my kid know their insurance options and what is covered?