Finance Expert Suggests Parents Use This Time To Educate Children On Money, Saving

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.

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.

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.

She is offering a free webinar, Kids and Cash, for kids to learn about finances. Click here for more.

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• COVID-19