Here are a few tips on how to start talking to your kids about money management:
- Start early and start soon.
When your child becomes interested in coins or cash, give them a toy bank and have her practice putting money inside of it and talk to her about savings and spending.
2. Teach them about the differences in the types of currency.
Start with placing coins, a check, a debit card, and a credit card in front of them. Then have a discussion about the differences between each type.
3. Encourage them to start a personal savings piggy bank. Any allowance that you give them, make sure they put part of it in a piggy bank.
For some great resources for talking to kids about money, click here.
To learn more about the CCCS and our services, click here. Remember, it’s never too early or too late to begin the conversation about money management!