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Fiology Lesson tackling the topic of teaching our kids about money.

How to Teach Kids About Money

When we have children, we don’t automatically know how to teach kids about money. Be kind to others…say please and thank you…max out your Roth IRA? Imparting lessons of financial literacy isn’t normally at the top of our parenting priorities.

Today, with children subject to social media, television, games, and friends, it is important that our messaging is heard and valued. One major message for our children should be that they are expected to grow into financially responsible adults. And since most education systems are failing at delivering this message, we parents must succeed.

But, how do we teach our kids about money? Whether our children are five, sixteen, or twenty one, this lesson will help us encourage our children to become capable of achieving Financial Independence.  

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Take Action:

  • Review Doug Nordman’s post above.  Let that be a starting point for putting you in the mindset of shaping the financial education for your child. Develop, with your significant other onboard if applicable, and implement an initial plan for your child that is age appropriate. This is only the beginning of learning how to teach kids about money. Continuously monitor, measure progress, and introduce new lessons when ready.

Additional Resource:

Quote:

“Though small was your allowance you saved a little store: and those who save a little shall get a plenty more.” – William Thackeray

Fiology.com is an educational resource designed to teach Financial Independence (FI). We scoured the internet to find content from the best and brightest of the FI community and created lessons covering the critical concepts.

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