How to teach your children age-appropriate financial lessons

Community

April 5, 2019 - 3:08 PM

PHOENIX — When it comes to understanding money management, responsible spending and healthy saving habits, it’s best to start young.

“For better or worse, parents serve as the prime example when it comes to financial behaviors,” says Michael Sullivan, a personal financial consultant with Take Charge America, a  national nonprofit credit counseling and debt management agency. “Beginning financial discussions early-on, and continuing these conversations through each age, can help kids become financially independent and confident come adulthood.”

Sullivan outlined age-appropriate financial lessons that parents can instill in daily life.

Ages 2-5

Basic money knowledge — Teach toddlers the names of individual coins and the value of paper bills. Explain how cash is deposited into a bank for safekeeping.

Related
October 29, 2019
March 1, 2019
October 17, 2018
May 28, 2018