Jessica sent in the following article link from Education.com that I think is an important reminder on how parents can help educate their children about sound money management.
The article is HERE.
There are five points. I graded myself as I went through them.
1. Set a good example. [ GRADE: A- ] I am still a spender at heart.
2. Start saving – at any age. [ GRADE: B+] My daughter inherited my "spender" genes. She always saves some of her money, but I have let her continue to buy those stupid Webkinz!!! How many of those things does a kid need anyway?!!!!
3. Budget sense. [ GRADE: A+ ] Our daughter knows about budgets. She knows how they work.
4. Go shopping together. [ GRADE: A ] On recent shopping trips, I have really seen our daughter pull back from making a frivolous purchase that she would have made in the past.
5. Make it a long-term conversation. [ GRADE: A+ ] Anyone who knows me, KNOWS that I can make a conversation about money be a LONG-TERM conversation.
Grade yourself below, and let's start the conversation!