How to Teach Your Young Kids About Money

HOW DO YOU TEACH YOUR YOUNG KIDS ABOUT MONEY?


One of the fun parts of being a financial planner is getting to
field and answer questions from clients and readers all around
the country. In these Work Your Wealth episodes I'll be taking
time to address and answer questions I've come across from
readers and clients throughout my career. Today I'm answering the
above question.


WHAT YOU’LL LEARN FROM THIS EPISODE:


What money scripts are and how they impact us from childhood
through adulthood.

Why it's important as parents to make money a topic of
interest for our children from an early age.

Why it's important to remember that children model and mimic
our behaviors.

How to model and expose children to healthy financial
behaviors.

How to leverage a rewards jar for savings.

How children who can practice delayed gratification fare
better financially.

How to set and frame boundaries and expectations.

Ways to tie together the financial conversation through
various messages.

The role "play money" can have empowering your children
financially.

The use of the Three Jar Method and how to leverage it to
teach a balanced approach about money.

How to incorporate a conversation around giving back.

Why it's important for you to create a habit of discussing
finances from your children's early age.



LINKS MENTIONED ON THE SHOW:


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Work Your Wealth: 9 Steps to Making Smarter Choices With Your
Money

9 Steps to Workable Wealth