How young is too young to start teaching children about money? If you give your child an allowance, or if you include them in any discussions about how money will be spent, you have begun their financial education. The ideas and feelings they develop about money will last with them for a lifetime. It is important that they have a healthy feeling when it comes to money.Many of us grow up hearing about money not growing on trees, how the family can't afford something, or that rich people are dishonest. All of these statements lead to discrimination against people with money and feelings of lack regarding being able to buy material things. Subconsciously children internalize these feelings and this can lead to a variety of behaviors as they grow older that will not be helpful or beneficial.
Instead of teaching lack, it is a good idea to teach abundance. If you show children that they can have whatever they want by being prepared and focusing on what they want, you will more well-rounded children who appreciate and respect money and are self-confident that they will always have enough money to live their life comfortably.
So the next time you make a negative comment about money or wealthy people when you are with your children, think twice and reword your comment. What you say now will have a long term effect on how your children view you, themselves, and the world in general. Money may make the world go round, but responsible parents raise children who are money savvy.You can reinvent your life by learning new ways to think about money. Visit http://www.ReinventYourLifeWithPassion.com to find out more.
