Feb 21, 2017 11:24 AM EST

Money Lessons: The Importance For Parents To Talk To Their Kids About Money

At a young age, it matters already that parents teach their kids the value of money. Financial literacy is very important at any age. This is not just a trend to follow, but a necessity in order for the children to know the realities of money.

Money is an integral part of everyone’s day to day life. As a parent, it is part of your responsibility to educate your children about money. This is the best way for them to understand its value and importance.

Market Watch gets to interview Beth Kobliner, the author of “Get a Financial Life” wherein she talked about parents teaching their kids how to become a smart spender and saver. When asked about the importance of teaching young kids regarding money this is what she has to say.

“When I was working on the president’s council the most popular age group people were interested in was 3 to 5. This is something parents want to handle in a big way. Through good and bad economic times, it’s important for parents to equip their kids with financial literacy,” says Kobliner.

Kobliner also pointed out that parents should not feel guilty if they do not give their kids what their friends have. What is important is that they get to explain to their kids the value of money and hard work. It is also a must to explain to the children the right way to spend the hard earned money. Parents will be amazed that their kids will listen and absorb what they said. By simply doing that, parents are already instilling the right values in their children and that they will carry on for the rest of their lives.

According to News8000, money talks are a very serious matter. However, parents can find ways to become more flexible in discussing it with their children. Parents can do it through games, taking their kids to them in the banks, going to the grocery store and raising money activities. In this way, the kids will be able to learn lessons about saving, planning for the future and at the same time sharing blessings.

Meanwhile, Jobs & Hire reported that even young children can become an entrepreneur as long as they have the drive and passion. It is indeed a smart move to educate their kids what money is all about even at a young age.

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