What To Tell Your Kids About Money The 7 Essential Lessons
If I had a dollar for every time I have been asked by a parent what to tell your kids about money, Id be a millionaire. There are many different aspects of money management you can & should tell your children about. Here I will share with you what I believe are seven of the most important principles
1. Money can be exchanged for goods or services.
This is one of the first few lessons you should teach your child once they are old enough to understand usually around the age of 3 years. Next time you go down to the corner store to buy one or two items, let your child hand the money to the cashier. By doing so, they will gain a greater appreciation of the concept of being able to exchange money for things you want or need.
2. One should be careful with money.
Some people I know, seem to think that any coins with a value under 50 cents are just too small to be bothered using, and so when cleaning out their loose change from around the house will simply throw these smaller coins in the bin. What a waste! Encourage your child to be careful with all denominations of money, and show them...
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