10 Effective Ways To Build Good Money Habits

Financial Literacy for Kids

As parents, we know that financial literacy for kids is critical.  But how do we get started? Which topics should we teach, and when? In this post, I’ll answer these questions by sharing ten ways to build good money habits in your kids.

Financial literacy means having the knowledge and skills to manage your money successfully and confidently.

What Is Financial Literacy?

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Children constantly observe and learn from people and the world around them.  Therefore, one of the best ways to instill financial literacy in kids is to model good money habits.

Model Good Money Habits

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One of the most basic money skills kids can learn is how to save money.  For the youngest of kids, it works best to do this in a tangible, tactile way.

Teach Your Kids How To Save

Kids can start learning the basics of investing from a surprisingly young age.  Here are some age-based ideas for how to instill investing knowledge:

Teach Your Kids the Basics of Investing

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You can get them started with an investment account much earlier—perhaps as soon as they have some extra birthday or holiday money.

Help Your Kids Start Investing

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One of the best ways to do that is to take them shopping with you.  You can then weave in financial literacy lessons by showing them how you spend less on the things you need to buy. Here are some ideas:

Go Shopping Together

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