Jonathan Clements from the Wall Street Journal offers some advice, or his experiences as an example, for teaching children about money management. (By the way, this article can be accessed for free, unlike most of the Wall Street Journal Online.) The first rule of writing these types of articles is “Know your audience.”
And Jonathan knows his audience: Wall Street Journal readers. I’m inclined to believe that this article is basically “preaching to the choir.” That is to say, Wall Street Journal readers probably don’t need to be told that they should give their children an allowance while showing them how to save that money in a bank account.
By no means does the article contain bad advice, and I certainly encourage everyone to read it. I believe a better Wall Street Journal article might include more details on the options available for parental investing for minors.
Perhaps the newspaper might encourage parents to teach their young teenagers about stock market investing (or gambling, to some) through a game, effectively teaching about risks before they become full adults and feel the need to throw money directly into stocks, like their friends.
Also, something website-related: You may notice in the sidebar on this website the recent entries and recent comments areas now use two shades of green. The lighter green signifies entries and comments posted in the last twenty-four hours.
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