How do children learn to manage money? There is usually no course at school, and many parents do not teach them about personal financial management. As adults, without a solid foundation, they are left to learn from their own successes and failures.
Additionally, today’s children have more money to spend and develop financial habits at younger and younger ages. This results in many children who develop bad habits that can last a lifetime. It is important for children to learn patience, discipline, and money smarts that will guide them to be fiscally responsible.
Here are some tips to help encourage good financial habits: