Teaching Kids About Money

A Practical Guide About Teaching Kids About Money

In Parenting by Interconnected Lives

Teaching kids about money isn’t really a very difficult job to do; however, most parents ignore its importance quite easily.

Given how vital financial skills are these days, it surprises me when parents don’t think that their child is old enough to learn about saving money.

Let’s take the example of Warren Buffett who learned about maintaining a budget even when he was just 6 years old.

He says that his father inspired him to learn more about finance and attributes his success to him.

Similarly, I don’t think I would have much success in life if it weren’t for my father. At a very young age, he taught me how to manage money by lending me money!

As I grew up, I could easily grasp the concept of investing money in projects that offered more profits.

After I got married, I was happy to teach my son everything about money, so that he would be successful someday in his life too.

Many of my friends ridiculed me about my teaching process, but in my opinion, teaching kids about money is a gift they will cherish forever. Of course, it wouldn’t be possible without the support of my wife Jennifer who helped Tyler much more than I did.

If you’re interested in teaching kids about money, read on to see how we followed the path and stuck to our plans