Teaching your kids about money.

By Yesha Shah, MBA

June 18, 2015

Educating your children about money should begin at a very early age. As they grow, they will be empowered to use knowledge and skills responsibly when it comes to money. Making money management decisions is a long-term process that begins with something as simple as putting a few pennies in a piggy bank and eventually evolves into making money, spending money and saving for the future.

Although the education system has begun taking steps to incorporate financial literacy in school, I truly believe that most things about money should be taught at home by parents. However, it may not be easy to know where to begin and the money conversation might end up being avoided. As a parent, it is important to remember that you have experience and perspective on your side. You can draw from your own financial successes and mistakes when educating your children.

Learning to earn, to budget and to save are essentials skills that need to be cultivated in your children. Using personal experience, you can begin with a simple conversation and use these tools I have compiled to teach your kids about money. Contact me for more ideas about teaching your kids about money and using investments to make their money grow. 

Email Yesha if you need guidance.

Disclosures


This article was featured in 4SIGHT. Sign up free to receive 4SIGHT, our monthly newsletter of helpful financial articles, tips, events, and monthly IRS deadlines. 

 

   

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