Why some people are comfortable with their money and others aren’t? It seems strange that some of us spend so much time thinking about something that by itself has no value at all. So, like anything else in our lives, our financial situation is a reflection of our thoughts, beliefs and emotions. If you are sure about your financial management skills – you don’t think about money too much.So teaching teens about spending, saving and investing is very important. Your teenagers will find themselves better prepared for life when they learn some financial rules and principles.
The lack of financial literacy can result into serious troubles. It is a well-known fact that young people tend to overspend because they can’t plan their budget properly. Teens don’t pay attention to the price of goods and services because they believe they have enough money on their credit cards to make purchases.
Preventive financial education will prepare kids for the real world and give them necessary skills to build wealth through saving, goal-setting, investment and legal advantages. In the current situation financial education is more important than ever, especially in today’s economic environment.
How to help your kids develop successful money management habits and financial responsibility?
Once your kids start to collect coins, it’s time to educate them about the value of money.