As parents, teaching our children how to become fiscally responsible early is essential. Teens can be impulsive shoppers for virtual gems we don’t understand.
When they are on their devices or ours–smartphones, tablets–they quickly lose track of time, and if they have access to your debit or credit cards, Zelle, or PayPal accounts, they can wreck our budgets.
Talk to your kids about money so that they know it is not a taboo topic for them. Thinking about our financial future, and generational wealth, we want to be able to count our children to be responsible adults.
Teach them how to postpone impulsive buys to save for bigger items in the future such as a bicycle, car, or college. Show them how you buy things that are on sale.
Don’t be afraid to share your credit card mistakes, if any. Our kids should know we are not infallible to misusing credit cards, overspending, or errors when we make investments.