How To Talk To Your Kids About Money

As parents, have an essential role in fostering our children’s attitudes and adopting good financial habits.

10 Ways How To Talk To Your Kids About Money 1. Start To Teach Them Early. Explain how the bank holds money for people and explain how it lends money.

2. Wants versus Needs As they got older, my kids became accustomed to asking for and expecting everything.

3. The Dangers of Credit Cards Versus Debit Cards Having credit cards are a big responsibility for everyone. Credit card debt is toxic to all to carry large balances.

4. Financial Education For Your Family Parents should enlighten their kids regarding their attitudes about money management. These are essential skills.

5. Be Honest With Your Mistakes We all wish we did everything well. The truth is that we make mistakes. We want our children to do better than us in education, making money, and managing money.

6. (Kiddie) Roth IRA Teenagers can contribute to a Roth IRA up to the amount they make from eligible employment.

7. Investing In 529 Plan As parents, you should set up 529 savings accounts for your children’s college education as early as possible.

8. Showy Social Media…Keeping Up With The Jones Social media has led to many conversations after we recognized our kids looking a little crushed at times.

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