Here at Walter the Vault we’ve discussed various topics about when and how to save money but we rarely talk about investing in stock. Children can not legally invest in stock on their own, but there’s still a lot to learn. READ MORE
Happy New Year Everyone!
We’re a few weeks into 2015 so there’s no better time to start saving. One savings plan that comes to mind is the 529 Plan. With the growing costs of higher education, starting a 529 plan can help give you a head start when it comes to paying for your child’s college tuition and expenses. READ MORE
Recently Forbes published “3 Financial Goals To Focus On In Every Decade.” The article discussed goals for people 20 and over. Walter the Vault feels it’s important for children and teens to have financial goals as well. READ MORE
Here’s a scenario: It’s your birthday and you receive a check as a gift. What do you do with it?
Perhaps your best option if you’re under the age of 18 and don’t already have one is to open a savings account, also known as a Custodian Account. A Custodian or Custodial Account is an account created at a bank, brokerage firm or mutual fund company that is managed by an adult for a minor that is under the age of 18 to 21 (depending on state legislation). Although most custodians who manage the bank accounts are parents, guardians, or relatives, the custodian doesn’t have to be related to the child to set one up. READ MORE
Walter the Vault teaches kids that money has value and is a medium of exchange for things one wants and needs. Distinguishing needs from wants is a critical component to financial education. READ MORE
How do we get children to learn without them knowing they are actually learning? Walter the Vault encourages children to become Money Masters by turning real-life situations into financial problems to solve. Next time while running errands with the kids, have them assist with the finances and paying. The goal is for children to then apply these lessons learned to their everyday lives. READ MORE
Money, money, and some more money! Why does it seem everything is about money? Spending and saving is something we all do or try to do in our daily lives. Isn’t it necessary for children to do the same, or at the very least to at least think about?
Meet Walter the Vault. Walter is a “Money Master” and a fun, animated character here to help. He teaches children the basics of financial literacy such as how to save reasonably, spend responsibly, invest wisely, give appropriately, and budget regularly. By following Walter the Vault, children can become Money Masters. READ MORE