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Families & Money
Teaching children money basics
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Which is something to consider when establishing money rules for your children?

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All of the choices are important elements of establishing money rules for your child.

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Which of the following is an opportunity to teach your child about money?

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There's no one right answer. You can use each of these moments to teach your child about money.

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Key Takeaways

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At any age your children learn about money and its value by watching your decisions day in and day out. Talking to them about everything from comparison shopping to saving and spending can make them more comfortable and help establish lifelong financial skills.

  • Turn everyday experiences into make teachable moments that reward children for making good choices and keep them interested in learning about money
  • Try to be open about answering kids' questions about money because you can help shape their perspective on spending and saving
  • Determine where children's money will come from, whether it's through an allowance or rewarding good grades
  • Have a conversation with your children about why they are receiving an allowance, and what parameters you set
  • Set age-appropriate expectations for savings and decide whether you want your children to contribute part of their allowance to charity