EVERY TIME YOU BORROW MONEY, YOU’RE ROBBING YOUR FUTURE SELF. -NATHAN W. MORRIS

Start teaching early

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Make it visual

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Give an allowance

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Set goals

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Open savings account

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Discuss family finances

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Let them make mistakes

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EVERY TIME YOU BORROW MONEY, YOU’RE ROBBING YOUR FUTURE SELF. -NATHAN W. MORRIS

Start teaching early

As soon as kids can count, start teaching basic concepts like saving, spending, needs vs. wants, etc. The earlier you start, the more ingrained good habits will be.

Make it visual

Use pictures, games, charts, jars, etc. to represent money and reinforce lessons. Kids learn better when they can see concepts visually.

Give an allowance

Let kids practice managing money by giving them a small, regular allowance. Help them divide it into saving, spending, and giving.

Set goals

Help kids identify goals to save for like a toy they want. Visualize progress with a savings chart. Praise goal achievement.

Open savings account

Open a simple savings account at your bank and make occasional deposits. Teach tracking balances, interest.

Discuss family finances

Openly discuss household budgeting and financial decisions when age appropriate. Kids need to see money management in action.

Let them make mistakes

Allow some bad choices as learning moments. Don't bail kids out from their money mistakes.

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