Model Money Smart Habits
It has been said that "Children are great imitators. So give them something great to imitate."
As parents, we know our children observe our every action, including gaffes that we hope will go unnoticed. We have those hopes because we know that our actions speak loudly.
In fact, a March 2010 Themint.org poll showed that parents have the biggest influence on the way kids save and spend money, moreso than friends, celebrities or their teachers. Believe it or not, parents shape the way children manage money more than anyone or anything. They actively absorb the way that moms and dads pinch pennies or make mistakes with money.
Questions to Consider
Modeling money smarts takes a serious parental commitment. Parents should consider the behaviors that they’re modeling to their kids by asking themselves:
Teach Them Well
Modeling money smart behavior doesn’t have to be complicated; there are many simple things parents can do.
Modeling money smart habits to children – aligning your actions with your words – brings the lesson home. Start early, and you’ll lay the groundwork for financial security later on.