Great Money Habits for Your Children
A supermarket cashier overpays a shopper mom $10 in change. On realising it, the mother promptly returns the excess, knowing the cashier would have to pay for her shortfall from her own purse. Her 7-year-old observes the casual exchange and learns — not just about the virtues of honesty but also that people are worth more than money. Family money values are not printed on a prominently hung poster at home. Instead, they are imprinted in the minds and hearts of our children in a way that can shape their financial and life decisions well into their adulthood. Are experiences more important than things? Is quantity prized over quality? Is it okay not to return money borrowed because it’s just a small sum? What are your family’s money values? While every child will grow up to have their own money values, much of their financial management prowess in the future will be shaped by lessons learned, intentionally or otherwise, in their formative years. source