A study from the University of Cambridge, “Habit Formation and Learning in Young Children,” found that money habits are formed by age 7. Researchers share that it's important to start basic finance education by age 3.
Having your children help you to sell their unwanted toys and clothes can teach them about money.
Chloe | It's Not your 9 to 5
Let your children use their spending jars at the store to make purchases. Shopping provides an easy lesson setting. How will your children spend their money? Will they use their entire jars at one store or spread them out over many shopping trips?
Money goals are an easy way to teach children financial patience. They also provide a lesson on how to save money.