7 Ways to Teach Your Kids About Money — Even If You’re Bad With It

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7 Ways to Teach Your Kids About Money — Even If You’re Bad With It

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Monday, October 3, 2016 - 10:35am

CAMPAIGN: Building Financial Capability in Communities

CONTENT: Article

Talking to your kids about money can be overwhelming.

After all, when you aren’t even that “good with money” yourself, you shouldn’t be teaching your children about it, right?

Wrong.

The important thing isn’t to be perfect with your money; it’s to be open about it.

A recent T. Rowe Price study found that kids whose parents have frequent discussions with them about money are more than three times as likely to say they’re “knowledgeable about personal finances.”

And when parents use money experiences to let their kids make mistakes (just like everyone does!), kids are nearly twice as likely to say they’re “smart about money.”

So. It’s essential you start teaching kids about money — and soon.

Even if you’re not confident in your personal finance knowledge, look around and you’ll find tons of unexpected opportunities to teach your kids about money.

Continue reading on The Penny Hoarder.

Keywords: Education | Penny Hoarder | Sustainable Finance & Socially Responsible Investment | T. Rowe Price | financial education | financial literacy | kids and money | teaching kids about money

CAMPAIGN: Building Financial Capability in Communities

CONTENT: Article