The end of summer means kids are jumping back into their normal school routine of learning. This school year, add financial literacy into your family’s daily routine to help your children learn the importance of money management. You can do this by:
•Walking your kids through making smaller payments (e.g., paying for dinner).
•Using the opportunity to teach budgeting and saving skills when they receive money from chores or as gifts.
•Opening up a bank account for them to manage.
•Teaching your older kids about using cash versus credit, reinforcing the idea that “money doesn’t grow on trees” and credit is borrowing money you’re promising to pay back.