Most parents keep their finances hidden from their children. You don’t want your kids to worry about mortgage payments or that dentist bill that’s causing you stress. While your intentions are good, you’re preventing your child from learning valuable lessons about money. Continue reading “Young Money: Your Child’s First Bank Account”
Science has taught us that children are like sponges – they soak up the most information when they are young. Linguistic experts always note that children who grew up hearing phonemes of other languages have an easier time learning the language when they are older. The same is true when it comes to learning about finances. The bottom line is: children pick up habits when they are young and it shapes who they are as adults.
Now, I am not advocating for you to sit your three-year old down to help you balance your checkbook – although, I would be impressed if they could do it! However, there are other ways to teach your children valuable lessons on saving, such as: