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How to Teach Your Kids About Money So They Become Financially Responsible Adults

How to Teach Your Kids About Money So They Become Financially Responsible Adults 1. Know That There's No "Right" Time to Broach the Subject Should you try to lecture your 6-year-old about compound interest? Probably not. But should you talk about how many chores they must do before they can afford that new bike? Absolutely. 2. Don't Make Money an Off-Limits Topic If and when it comes up, it's OK to be transparent about how much day-to-day things cost. 3. Establish Good Habits Have your kids set aside a portion of their weekly allowance for savings. 4. Teach Them the Difference Between Wants and Needs 5. Let Them Learn by Doing Greg Murset, Certified Financial Planner

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