The folks at Motley Fool have a great post on the role parents play in building financial life-skills in their children. The link for the short article is here.
Specifically, they suggest:
1. Making savings a priority: parents must talk up the importance of saving money and explain the benefits it offers
2. Take them shopping: to show them how to apply money in a real-world situations
3. Learn to say no: and help your kids to set their own money priorities
4. Talk about your paycheck: so earning doesn’t remain a mystery until they get older
At Monsters Money Club, we agree with these points, but we also understand that parents don’t always have the time to do this.
This is why we have created short videos to explain key money concepts, games and activities to make these concepts practical and apps to help parents and children put these concepts into practice.
Let us know what you think!
Link: https://www.fool.com/retirement/2018/10/25/how-to-be-a-good-financial-role-model-for-your-kid.aspx