Posted by: Dr. Carolyn Edwards | January 17, 2012

Poeverty in America – Money Matters!

We Must Teach Our Children About Money


Tavis Smiley hosted poverty in America forum to discuss poverty today and what we can do to overcome it in the future. Panelists included Suze Orman, Michael Moore and Cornell West. What they all agree on is that we have to teach our children early in life about money and financial responsibility.
  • What will you do to make your children money ready?
  • Do you discuss money matters with your children ie savings, earning, sharing?

There are simple things you can do today to teach children financial responsibility.

  1. Tell them about your job and how you earn money
  2. Share with them the expenses such as water, electric, gas that must be paid from the money you earn
  3. Discuss with them the difference between needs such as food, shelter and clothing versus wants like ice cream, eating out and going out to the movies
  4. Start them a savings account and take them to the bank with you. Let them see how money is deposited and saved. You can also do the same with a small coin bank at home. They have digital ones that keep track of how much money it contains.
  5. If you need help, use teaching tools such as the book “Fun With Money” ( It has beautiful colorful illustrations with easy to understand words to help kids learn about money:  how to earn it, save it, share it and spend it.

The book is also available at and Make sure you request it be available in your local library.

Begin today to help kids have a richer tomorrow!!



Dr. Carolyn Edwards is an author, life/career management coach and graduate management professor.

Have a Question? Ask Dr. E! Here is how you can send questions:

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Mail – PO Box 570555, Cutler Bay FL 33257



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