Updated: February 15th, 2017 by Kara Downing, CFP®
Think back to those early days in life when it seemed like everything in the candy aisle was free if you begged your parents hard enough. Not a fleeting thought was given to the expenses of a vacation or the copay costs at the doctor. There’s something beautifully unburdened in the way which children experience the world: recklessly present and innocently ambivalent. Teaching your children lessons about money from a young age won’t crush that. What it will do is to set them on a path to future financial success with enduring financial concepts. Children’s monetary habits are formed as young as age seven, according to a report published by University of Cambridge researchers. That means your children are going to learn about how to treat their money from someone, and it’s better for that person to be you, so you can guide the experience and activities.