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inancial habits.
Here are seven tips that can help you teach your kids about money, starting with the steps to take with younger children and progressing through lessons relevant as they move toward adulthood. 1. Give your child an allowance. Earning an allowance can introduce kids to the value of money and making choices for themselves. Start when your child is little and consider tying at least part of the allowance to chores to help instill a work ethic. 2. Emphasize savings. Kids are likely to eventually want something
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that costs more than what they have in their piggy bank or savings account. That’s your chance to teach them how save and to reinforce the concept of delayed gratification.
3. Encourage a summer job. A Schwab survey on kids and money shows that when young people have jobs, they are likely to be better savers later in life. You can reinforce the emphasis on
savings by making sure your child is saving a bit from every paycheck. 4. Introduce them to investing. As kids get older and hopefully have some money
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