Citizen Reporter
1 minute read
11 Mar 2020
5:07 pm

Quick tips for how to teach your kids the value of money

Citizen Reporter

Learning the value of money makes it easier for children to develop good money management skills.

Image: iStock.

Talk about money Talking about money in a calm, relaxed way and making use of everyday opportunities to demonstrate healthy financial habits is vitally important. From a young age, children witness how their parents interact with money. Pay cash, not card One way of demonstrating that money has value is to pay with cash when your children are around. Paying with a credit card sends the message that anything is available just by swiping a magic piece of plastic. Have a conversation about items which you consider essential versus luxury, just-for-fun items. Explain that it is not good to spend...