4 Tips to Teaching Kids How to Manage Money
October 22nd, 2008 -- Posted in Misc Ranting, Vacations and Fun, Wealth Strategies | No Comments »I grew up in a pretty conservative household when it came to saving and spending money. Guess that’s why I started teaching my daughter, Mikaila, when she was young (& the other kids in my life) to be responsible with their money early on. By the way, she’s the baby and just turned 21 today! Happy Birthday kiddo!
I believe in giving children an allowance for two reasons. One, it instills in them a sense of pride completing a responsibility and receiving something tangible for their efforts. But secondarily (& most important I think), is to teach them how to manage money early on.
I gave the kids 4 "piggy banks" when they were about 4 years old and explained continue reading »
