The best time to teach your children about money is the day they are born by making sure you are setting the best example.
- As soon as they become aware that people trade money for things, it’s time to explain where the money comes from.
- As soon as you realize they think money comes from banks and ATMs, it’s time to show them that mommy and daddy trade their time and energy for that money and that they should start thinking of ways to make money themselves.
- As soon as they are able to make a little money themselves, make them responsible for things they want and some of the things they need.
I wrote a whole book on this called The Ultimate Allowance:-).
Thanks for asking…