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Contributed By Susan Michel, EO New Jersey member and founder and CEO of Glen Eagle Advisors, which provides investment management and financial planning advice.
Raising kids in an entrepreneurial family comes with challenges. You want to be a responsible parent and raise financially literate children, but where do you start?
April is National Financial Literacy Month, the perfect time to focus on the importance of teaching children about money. Whether intentionally or not, each of our unique relationships with money shapes our children’s relationship with money. How we acquire, use and manage our money are largely influenced by the information we received from our parents during childhood.
With the current pandemic, many of us are dealing with having our children at home and the continued challenges that go along with virtual learning. There are many creative and engaging ways to teach life lessons outside of the classroom―even if you’re not a certified teacher!
While many parents understand the value in teaching their kids about money, they’re often unsure where or how to start. Here are four action steps you can take now to teach your children about money:
Demonstrate and demystify the relationship between work and money: You can do this by including kids in family budget discussions. Meal times are a great time to talk to kids about money. If you are planning a family vacation, for example, have them research how much items cost. They can look up airline flights, car rental rates, hotel options and local activities that fit withi… Read More
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