Why should we instill sound money management principles in our kids? This is Sara Croymans, Extension Educator for the University of Minnesota Extension.
Since our kids learn how to manage money mostly by watching how we manage ours, we can make a big difference in preparing them to recognize and defeat the debt-influencing forces which have overpowered many families.
Parents should keep these guidelines in mind as they begin teaching their children about money:
Your early efforts in teaching young children that money doesn't grow on trees or magically spring from the deepest recesses of your pockets should make money management easier for them later on. To learn more about Children and Money contact the University of Minnesota Extension, web site, http://www.extension.umn.edu/youth&money