5 Financial Tips for Kids
Set your children off on the right financial foot by teaching them these five important fiscal ideas.
A version of this article originally appeared on Learnvest.com.
When it comes to advice on how to teach your kids about money, it’s hard to sort through the not-so-great stuff to get to the “oh, that’s helpful!” parts.
It’s unfortunate because experts say that it’s important to broach the subject of money with kids at a young age, but studies show that parents are more comfortable discussing bullying, drugs and smoking than family finances or investing.
“There’s no way to expect a child at any age to understand money unless you talk about it,” says Neale Godfrey, author of “Money Doesn’t Grow on Trees: A Parent’s Guide to Raising Financially Responsible Children.”
So what should you talk about? Godfrey walks us through what she thinks are the five most important financial conversations to have with your kid.