Reasons to Cultivate Financial Management to Your Kids as Early as PossibleReasons to Cultivate Financial Management to Your Kids as Early as Possible
If you’re like many US citizens and me, things seem incredibly challenging when we don’t have much knowledge to deal with daily and even emergency expenses. That’s why I don’t want my kids or your kids to feel the same in the coming years. After all, one of the basic life skills that your kids can learn is financial management. Here are four reasons why you should start cultivating financial management skills in your children as early as possible.
Capability to Handle Money Responsibly
One of the most important things that your kids can learn from you is how to handle money responsibly. It means they will know how to budget their money, save for their future, and even invest in something that will grow over time. According to a study done by Harris Poll on behalf of NerdWallet, “70% of American adults with children under 18 say they have never talked to their kids about money.”
This is a very alarming number because it means that most of us are not comfortable talking about money with our kids. If we don’t talk about it, how can we expect them to learn about it?
Ability to Save for Things They Need
Another reason you should start cultivating financial management skills in your kids is that they will be able to save for things they want or need. For example, if they’re going to buy a new toy, they will know how to save their money to buy it without putting …