Teach your kids about money!

Here are ten tips, given out by Forbes magazine on how to teach your kid about money while they are growing up. (Photos: Thinkstock)
Here are ten tips, given out by Forbes magazine on how to teach your kid about money while they are growing up. (Photos: Thinkstock)
Do: Model good money behavior. Kids mostly do what you do than do what you say.
Do: Model good money behavior. Kids mostly do what you do than do what you say.
Don't: Say "We Can't Afford It". The phrase may worry the child, who might think the family is struggling financially.
Don't: Say "We Can't Afford It". The phrase may worry the child, who might think the family is struggling financially.
Do: Involve kids in household shopping. Involve children in household shopping by taking them to the store.
Do: Involve kids in household shopping. Involve children in household shopping by taking them to the store.
Don't: Take kids shopping for fun. Don't over-expose children to shopping.
Don't: Take kids shopping for fun. Don't over-expose children to shopping.
Do: Bring your kids to the bank with you. Age 10 is a good time to open a savings account for them.
Do: Bring your kids to the bank with you. Age 10 is a good time to open a savings account for them.
Don't: Use credit cards around young children. When children are young, always using cash to make purchases when you're with them.
Don't: Use credit cards around young children. When children are young, always using cash to make purchases when you're with them.
Do: Give an allowance. Children should get an allowance in order to learn how to handle money on their own.
Do: Give an allowance. Children should get an allowance in order to learn how to handle money on their own.
Don't: Give your kids loans. Its important that kids make choices and then live with the consequences.
Don't: Give your kids loans. Its important that kids make choices and then live with the consequences.
Do: Talk about money regularly and casually. Getting money into casual conversations teaches children that finances are important, accessible and not too scary.
Do: Talk about money regularly and casually. Getting money into casual conversations teaches children that finances are important, accessible and not too scary.
Don't: Downplay the importance of money. Don't brush off questions about money or pretend that it's not important.
Don't: Downplay the importance of money. Don't brush off questions about money or pretend that it's not important.

Most Viewed