Teaching children about money is an important step in a parents life. How you teach your children about money will stay with them into adulthood and could mean the difference between them be riddled with debt or having a happy future.
There are two basic things that people can do with money, once they have it. They can spend it and they can save it. This lesson is broken into those two categories. Start off by teaching your child how money is made, through work. Then, go on to what they’ll be doing with their hard earned money.
Teaching About Spending
Spending money isn’t just about shopping. It’s important that children learn that bills and responsibilities come first, before fun and frivolous spending. This is where you will teach you child about having a checking account, writing checks, and about budgeting. A checking account gives them a place where they can put their money in order to use it. [Read more…] about Tips to Teaching Children About Money