For elementary-aged children, money lessons are something that should not be avoided. While young children do not need to understand all of the goings-on concerning household income, they can and should learn age-appropriate lessons that will carry through adulthood if properly reinforced.
The ‘tween age group, those who are not yet teens but still tend to spend a lot of money due to the large amounts of marketing being thrown their way these days, can learn many things about money to help prepare them for their years ahead. If parents are not teaching kids how to be responsible with their money, no one else is really doing that job for them. High schools and even colleges do not often cover the basic financial foundation lessons people need to know for the rest of their lives. Starting while kids are still young and impressionable can help instill habits that will help them manage their money more effectively in adulthood.
Parents also need to stay on top of their own financial management as kids learn a lot from watching their parents. By being more responsible with your own money and teaching kids the basic fundamentals of managing cash, you can help set the stage for a more financially stable future for your kids.
Lead Photo Credit: “PictureYouth”