Last Updated on December 30, 2019
#6 – Teach them financial management
Kids must learn financial prudence at a young age. Just like the skill of good time management, financial management is very important, so your kids should understand from now that money isn’t easy to earn which is why they must not spend it on unnecessary things.
When your kids realize that money is a limited source, start to differentiate between needs and wants, and develop budgeting strategies, they will be able to manage their money properly when they go off to college, start work, and build a family.