Parents are possibly the most important influence on their children’s financial habits. Yet many parents never intentionally teach good money habits to their children. Financial habits and the many spending decisions that people make daily end up being a stronger predictor of their financial health than their paychecks. Your children’s relationship with money in early life could have a strong influence on their ability to successfully navigate life’s many spending decisions later on.
Begin by teaching these four key lessons to your children and put them on track to sound financial health. Remember to walk the talk though; your own money habits must match what you teach your children.