Aaron Leak was featured in US News & World Report on April 7, 2021 in an article titled “Fun Ways to Teach Kids About Money.”
At every age, there are ways to impart financial precepts to help your children. And teaching kids about money, including how to save and spend wisely, can set them up for long-term success.
Aaron spoke to the magazine about the elementary school and teenage years, and shared tips about how he teaches his own daughter. Here are his comments:
For elementary school kids. Games are a fun way to impart financial lessons. “As funny as it sounds, Monopoly is a great game to play with children to begin the concepts of money,” says Aaron Leak, founder of ECL Private Wealth Management in Rockford, Illinois.
He says older elementary school kids can handle more complicated financial transactions, as long as you’re leading the way, of course, and monitoring their finances.
“The earlier kids understand money the better,” Leak says. “My daughter is 12 and has her own debit card with her own money transferred to her from me for chores. She also has her own investment account where we discuss and talk about how investments work.”
For teenagers. Leak is all for teenagers learning about investing. And at some point, if you think your kid should get a part-time job, that’s not a bad idea, many financial experts say.
Read the entire article in US News & World Report: