Guide Them, but Let Them Learn From Their Mistakes

Childhood is the best time to learn good financial habits. RetroClipArt/Shutterstock

Dear Dave,

My wife and I have started teaching our 5-year-old son about money. Do you feel we should step in and fix things when he makes mistakes, or let him experience the consequences of his actions? It’s so hard on my wife, especially, to see him disappointed when he makes a mistake and his plans don’t work out.