
Whether your child grows up to be a doctor, an artist or the leader of the free world, the one thing they’ll have to know is how to manage their money.
Just because the local grade school doesn’t teach Personal Finance 101 doesn’t mean you can’t start educating them in this all-important topic right now and start developing a solid understanding and a set of good habits that will payoff big in the long run.
Gbonjubola Sanni presents three ways to introduce the topic in the course of your daily routine.
Who knows? Discussions like these could save a bit of your sanity when you accidentally find yourself face-to-face with the dreaded toy aisle…but probably not.
Look for Teachable Moments
There are hundreds of opportunities to talk about money. Whether you are out shopping, watching television, running errands, paying bills, or buying gas, you have a chance to teach valuable lessons to your children. Take time to engage your child(ren) in the process by explaining what’s happening, asking questions, and answering their child’s questions. A teachable moment can be as simple as letting the child know that if they spend all their money at the fast food restaurant, then there won’t be enough money to buy a much needed action figure bicycle when you go to the store later that day or week. It won’t take long for the child to understand that once the money is spent that other items cannot be purchased. Soon, the child will begin to prioritize what is important to them without parental coaching…
Use Current Events
Some parents avoid discussions about the economy and finances in front of their children out of a fear of making their children anxious. Talking about it may actually decrease children’s anxieties. Never shy away from discussing the current state of the economy; just find a way to reach the child on their level…
Full story at Gbonjubola Sanni.
An early education in Decision Science.
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