What parents should do to teach their children money management skills | TahoeDailyTribune.com
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What parents should do to teach their children money management skills

– Teach them to put a small amount of money away for a later day.

– Set ground rules for what they do with their allowance money and be consistent.

– Show them how to make spending plans and keep accounts.



– Set a good example.

– Do not use money as a reward or a punishment.




– Help them learn how to live within money limitations and how to make adjustments when money is scarce.

– Encourage them to shop for best interest for savings as well as understand costs of credit.

– Open a savings account.


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