You can never teach your children about money too soon!
You may have noticed, children may act as money grows on trees! Kids may be aware that you go to the bank to get money, but rarely they know how the money gets there. This is the perfect opportunity to teach your kids that you have to work hard to earn the money that you spend. Once they understand this concept they may become aware of the hard work you put in to earn a living.
Once they learn, they will apply
After your kids learn about money, how its earned, and the things it can buy; you might notice they will save every penny they can get their hands on. As a parent it is your responsibility to channel the attitude to teach them to save and learn delayed gratification.
-Planting the seeds early will help bear fruit later
Educate your children from a young age on how money is earned and how it works. By doing this you can avoid trying to teach them as teenagers, when they are less likely to heed any kind of advice you give.
Allowance can be an effective teaching tool
Giving your kids a small amount of money at a young age will prep them for the larger future numbers to come.
The teaching game changes with Teenagers and College-age kids
By the time the kids reach this age group they will most likely have bigger responsibilities such as: Checking accounts, Credit Cards, and other debt. Teaching the kids about banking and credit while in high school will set them on the path of success when they venture out on there own. High School, a lot of times, will off classes covering banking, financing, and the market. Teach your children to take advantage of these resources.
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