Today, let’s talk about kids and money, and why it’s so critical to start teaching kids about money from an early age.
Right now, we’re in the third paragraph on Page 38, under the title ‘Kids And Money’, in Chapter 2 of Dave Ramsey’s Complete Guide to Money.
And here’s my lesson for the day:
Parents, please understand: someone is going to teach your kids about money. It will either be you or some clown who’s after their money – you decide.
A money master thrives in many other aspects of life
When you teach your kids how to handle money, you’re not just teaching them how to count dollar bills or cash a cheque; no…
… when you teach your kids how to master their money, you’re teaching them valuable and crucially important life skills that will stay with them for the rest of their lives.
For example, here are money lessons you can teach your kids, and the benefits they would gain from the habits.
1. Benefits of teaching your kids to budget
When you teach your kids, at an early age, how and why they need to budget:
- Your kids learn how to plan for unforeseen events and emergencies ahead of time
- Your kids learn to not waste till the last minute before getting things done
- Your kids practice the habit of cutting their spending based on how much they make, not how much they earn
- Your kids understand the difference between wants, desires, and needs, and why some expenses are more important than others… all at an early age
2.… CONTINUE READING