Teaching kids about money may appear like a prodigious job, but it is critical to ensure that your child understands how to handle/organize their money well later in life. There are many good reasons to educate your child(ren) about money. Firstly, you never want your child(ren) to repeat your financial mistakes. Also, if you groom financially educated kids, the biggest possibility is they won’t someday be asking you for money. By teaching them, you’re backing yourself.
If you do not teach your child(ren) how to handle money, someday, somebody else will. And that’s not insecurity you wish to undertake. A recent survey submitted that about 48.0% of participants who obtained more than 10 hours of financial education report spending lesser than they earn, as compared to 36.0% among others who acquired less than 10 hours. By transforming day-to-day topics or activities into money lessons, you can play a vital role in teaching your child about finances.