Did you know that, as a parent, you are the number one source of financial learning for your kids? It’s true! Research shows that most of our money-spending habits (good and bad) are learned from our parents. The good news is, it's never too soon, or too late, to start teaching your kids about managing their money and the value of a dollar!
Not sure where to start?
Here are a few smart money management tips to teach in your home:
1. Comparison shopping 🤔
From supplies to books, help your kids understand how to purchase quality at a discount.
2. Understanding the value of money 🧠
If they're aiming to purchase a specific brand of an item (shoes, toys, etc.) help them evaluate the quality and earn it.
3. Allowance 🪙
Special events from sports to prom can be costly. Help build excitement by having your kids save and contribute.
4. Give back/donate 🫶
Helping those in need allows kids to appreciate the value of a dollar and instills kindness.
Still have questions? Talk to an advisor today for more tips that could better your family's spending habits. Email information@shoemakerfinancial.com or visit our Meet The Team page to connect with one of our many advisors.