Millennial Money: How to set good money examples for kids
examples for kidsSummary: Kids absorb money lessons whether you intend for them to do so or not
Kids notice everything, whether you think they’re paying attention or not. They repeat the curse words you blurt out when you step on a toy, and spill your embarrassing family secrets to their friends.
From a surprisingly early age, the kids in your life also notice money: who has it, who doesn’t, and how your household handles it compared to other people. They overhear arguments and pick up on stress. With every financial decision, you set an example. “You are a mirror and your kid is a sponge,” says Jordan Wexler, co-founder and CEO of EarlyBird, a registered investment advisory company where parents can open custodial and college savings accounts for their kids.
So, no pressure, but modeling positive money behavior for all the kids in your life is important, whether you’re a parent, relative or close family friend. It starts with figuring out your own approach to money, and then providing age-appropriate lessons.
ESTABLISH YOUR HOUSEHOLD VALUES
