Make Your Kids Money-Smart

Apr 16

It’s not about how much money you have to pass on to your kids – it’s about passing on money-smarts. Teaching your kids sound financial knowledge can help them make smart financial decisions now, and in the future.

Just like with everything you teach them, there are key concepts and topics that create a foundation they can grow from.

Understanding the Basics

Research has shown that most of our money habits are developed while we’re children.¹ There are a lot of ways that parents can influence those habits, both by addressing them directly and by simply including children in day-to-day financial decisions and processes. The following are money management principles that set everyone up to be successful:

• Learning how to wait while saving to afford something they want
• Understanding the concept of ‘future’
• Dealing with delayed gratification and
• Avoiding impulsive, irreversible decisions

Differentiating Needs and Wants

An effective way to help kids... ...