Using a CD to Teach Your Children about Finances
Introducing your child to the world of finance should start at a young age and adapt in complexity as they grow. When the lesson of the day (or year) is all about saving and investing, consider using a certificate of deposit (CD) as a teaching tool. A CD will illustrate to your eager student how saving a portion of their allowance or earnings can grow into a greater sum, without the risk of losing it all due to a volatile market. Here is a closer look at why a CD is a useful, rewarding, and predictable way to teach money management to kids.