We should all learn a few simple lessons about money. It’s finite. If you borrow, you’ll have to pay it back. There’s no such thing as a sure bet. If you can’t afford it, you’re better off not buying it. When you put it that way, these are lessons that young children could learn – and benefit from.
Many of us feel conflicted about teaching our children financial savvy, almost as if there’s something unsavoury about talking about money with or in front of the children. If you feel that way, chances are you were brought up in a family that considered money not a conversation for polite company. But there are sound reasons to talk to your children about money to ensure they grow up with a sensible attitude to it. Good habits – and bad – come from parents.
The financial habits we acquire and lessons we learn in the birth family are the basis for financial behaviour later in
