Why is it important to teach young children about money?
Children learn many of their personal habits and builds their relationship with money at a young age. The sooner a parent or guardian teaches their child about money the easier it can be to have specific conversations about finance with your teen or college age child.
A child is very open to learning new things and the rate they absorb information is quite remarkable. If you’re not teaching your child about money, they will learn it from observing your relationship with it, from other people and will likely be strongly influenced by marketing tactics.
Teaching your child about money at a young age and into adulthood can provide you comfort. It may give you peace of mind that your child has not adopted your bad money habits and they will be financially secure and independent.