Teaching your kids about finances as soon as possible could put them on the right track to developing good financial habits. It could also set them up for financial wellness throughout life, a comfortable retirement, and generational wealth. And, perhaps more importantly, it could steer them away from the dark side of finances: reckless spending, crippling debt, and bankruptcy.
But it’s easier said than done. Where do you even begin teaching kids about money when they aren’t making any of their own? Luckily, there are many ways to teach kids about the value of a dollar. So let’s take a closer look.