Wouldn’t it give you peace of mind to know you’re passing good money habits along to your child? Many of us were never taught the value of money. The problem is your kids are learning about money whether it’s intentional or not.
The money behaviors your child observes and learns in childhood will shape their attitudes and future money habits. By the early age of 7, many of your child’s money habits are set.
Your job as a parent is to teach your kids financial responsibility. Learning basic money skills and concepts such as patience and delayed gratification can mean the difference of raising financially savvy kids or not.
Lead by example
Kids are constantly getting messages about money in the home, through the television and the media. They are highly perceptive and internalize the spoken and unspoken messages they receive.
How do you speak about money? What do you say about it? Do you have an abundant or scarcity mindset towards money?
Let your children hear you talk positively about money. Encourage your child to express gratitude for the little things in life.