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Teaching Kids Everyday Money Skills

New Year, New Habits!

The past year, financial literacy for kids was a hot topic all around us. We all put our efforts into educating kids about various money topics and skills. Now that we have the awareness of the topic, let’s move to implementing it in their life. It’s time to start building smart money habits for kids. Here are the top 3 things to help your kids form smart money habits!

  1. Teach them the value of money If a child does not know the value of money, they will have little motivation to build habits such as saving, budgeting, earning. It’s important to motivate, inspire and build their intention before moving to the next step!

  2. Have open conversations Talk to them about money and break the taboo around it. Money should not be a topic that is avoided, especially around kids. It’s time to remove the stigma that money is a private topic. The only way they will learn is if you let them.

  3. Give them independence They need the freedom to make their own purchasing decisions. The best way to learn a behavior or habit is to keep practicing it. It’s difficult to not give your input but it is necessary for growing their skillset.

Once you have checked off all the 3 things listed above, habits will start to build. There are plenty of creative ways you can go about that, make sure to check out our blogs about habit learning for kids!