Creating money-smart kids doesn’t happen overnight. It’s a skill and a behavior that has to be nurtured over time. The skill lies in learning the value of saving, giving, and spending conscientiously and understanding the difference between wants and needs. The behavior comes from the habits formed in doing these things over time and learning from mistakes.
The earlier you start your child on this journey, the better. Children quickly grasp the concept behind spending money and soon their appetite for things can be insatiable. How can we best instill in our children the value of money and living within one’s means?
This is just an excerpt from an article FamilyMint recently had published in The Old Schoolhouse Magazine entitled "Teaching Kids to be Money Smart". Click here to read the rest of the article.