It’s never too early to start teaching your children about money and an allowance is a great way to do that; it teaches them the value of a dollar and hopefully responsibility when it comes to money and financial decisions. Teaching children about the basics of money management and helping them to develop healthy financial habits will help them make found financial decisions in the future.
No matter the age of your child, from kindergarten to college, ACCC has a workbook designed to help them learn applicable money skills for their age group. Our workbooks are packed full of lesson plans, tips, activities, worksheets, quizzes, helpful information, and certificates of completion to help parents develop and foster a positive relationship between their children and money. To download a free workbook to teach your children about money, visit ACCC’s Youth and Money center.
Also remember that a child’s relationship with money is heavily tied to how they see their parents use and interact with money. Try to set a good example for your children and involve them in any financial decisions that you see fit.