Want to raise kids who grow up confident with money instead of stressed about it? Start with these 3 simple steps:
1. Make your kids earn their own money.
No, your 12-year-old doesn’t need an allowance. They need commission. That means they work, they get paid. They don’t work, they don’t get paid. Just like the real world. Give them age-appropriate jobs like mowing the lawn or walking dogs. Teach them that money comes from work.
2. Teach your kids to save for what they want.
Your kid wants a new bike? Great. Don’t buy it for them, but help them save for it. Give them a goal and let them watch their savings grow. That feeling of earning something themselves will be better than any handout.
3. Show your kids how to live on a budget.
If they get birthday money or a paycheck from their first job, don’t let them spend it all in one weekend. Teach them to budget. Help them divide their money into giving, saving, and spending so they learn early that every dollar needs a plan.
Your kids’ future money habits start with you. Show them the right way, and they’ll carry it with them forever.
DaveRamsey
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