MINNEAPOLIS (WCCO) — Moms and dads are wearing many hats right now, including helping kids with online learning.
In a time when budgets may be stretched now could be a good time to teach your children about money.READ MORE: How Do U Of M-Developed Apple Varieties Get Their Names?
Financial advisor Nicole Middendorf suggests parents can use this time at home to educate their kids about needs versus wants, save versus spend and more.READ MORE: Demolition Begins On St. Paul's Midway Shopping Center, Heavily Damaged During Unrest
Middendorf suggests setting up a Family 401k. So if the kids want a trampoline, they contribute a dollar and you put in a dollar. Or they put in a dollar and you put in 25 cents, whatever works for your family’s budget. This teaches them what a 401k is all about.MORE NEWS: Cortez Banks Charged In Crystal Knife Attack; Victims Expected To Survive
She is offering a free webinar, Kids and Cash, for kids to learn about finances. Click here for more.