Teaching young children about money can go a long way in preparing them for the future. Children learn and mimic their parents’ behavior. Thus, if you talk to your child about money when they are young, and set an example for them as they grow, they will be that much more aware and fiscally responsible as adults.
Here are some suggestions on what to tell your seven-year-old about money:
1. Although it may be a cliché, you can still tell them that “money doesn’t grow on trees.” Explain how mommy and daddy make money.
2. Sit your child...
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