3 Things That Parents Should Do To Teach Their Kids About Money

Who do you think is responsible for teaching your kids about money?

The parents.   

It is funny that as parents we teach our kids a lot of skills, but we fail to show them something as essential as managing money.

 Today I am going to share with you three things that you can do to help your kids understand the concepts of Money. 

 Children start deciding about money as early as three years old.   If you don’t think so, ask yourself, who chose the cereal or the juice at the grocery store.

  • Give them a budget allowance.

Typically, I suggest to give them a week allowance base on their age. 

If your child is 7, then $7,  6, $6, 5, $5 and so forth. 

  • Make sure to take out 10% for taxes, 10% for giving at least 10% for savings or investments.

This will give them a sense of reality and teach them good habits for then on. 

  • One way to show them the concept of money is to let them spend the money on what they want, but once...
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