Eric Arnold - Things to Keep in Mind While Teaching Kids the Value of Money

Things to Keep in Mind While Teaching Kids the Value of Money

Eric Arnold

https://planswell.com/

When is the right time to start introducing money concepts to children?

Experts generally agree that by five or six years old, children can begin to grasp basics such as coin values, counting, and prices of small things they want.

The Earlier a Child Learns the Value of Money, the Better It Is

Eric Arnold

Do's & Don'ts Do: Let them experience spending Don’t: Make financial decisions for them Do: Let them experience buyer’s remorse Don’t: Indulge their every want

Eric Arnold

Do: Encourage saving for a big purchase Don’t: Subsidize what they can afford

Do: Let them experience earning Don’t: Overpay them

Eric Arnold