ABC's of Raising Financially Responsible Kids

Book excerpt: Early financial education is crucial for a number of reasons. First, by educating kids about money management at a young age, we can aid in the development of vital life skills that will serve them well in the future. Children who learn budgeting, saving, and prudent spending will be better equipped to make mature financial decisions. Second, educating children about money at a young age can help shield them from bad financial habits. Youngsters who comprehend the worth of money are more likely to learn how to save for the items they desire rather than to make impulsive purchases. ABC's of Raising Financially Responsible Kids gives actionable advice from infancy through college. Teach your kids real-world lessons about allowances, saving and budgeting. Finally, teaching kids about money might help them realize how important it is to manage their finances. They will discover that money is a resource that must be used to create lifetime wealth.