Teaching Children – Give, Save, Spend | CandorPath

Teaching Children – Give, Save, Spend

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By John Kennedy, CFP® / October 26th, 2020

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At nearly four years old, my daughter is a bit young for assigned chores that will earn her money, but when the time comes, my wife and I plan to give her an opportunity to do just that.


 

Having conversations with your kids about value and money is important, but giving them an opportunity to actually earn money creates a tangible experience they can be personally invested in. We often talk in our household about the three different ways in which money can be used: given, saved, or spent. As you offer your kids allowances for household chores, consider also giving them tangible examples of how they can give, save, or spend it, so they can make their own personal connections with value and money.

 

Having conversations with your kids about value and money is important, but giving them an opportunity to actually earn money creates a tangible experience they can be personally invested in. We often talk in our household about the three different ways in which money can be used: given, saved, or spent. As you offer your kids allowances for household chores, consider also giving them tangible examples of how they can give, save, or spend it, so they can make their own personal connections with value and money.
At nearly four years old, my daughter is a bit young for assigned chores that will earn her money, but when the time comes, my wife and I plan to give her an opportunity to do just that.
 
Having conversations with your kids about value and money is important, but giving them an opportunity to actually earn money creates a tangible experience they can be personally invested in. We often talk in our household about the three different ways in which money can be used: given, saved, or spent. As you offer your kids allowances for household chores, consider also giving them tangible examples of how they can give, save, or spend it, so they can make their own personal connections with value and money.
 
Having conversations with your kids about value and money is important, but giving them an opportunity to actually earn money creates a tangible experience they can be personally invested in. We often talk in our household about the three different ways in which money can be used: given, saved, or spent. As you offer your kids allowances for household chores, consider also giving them tangible examples of how they can give, save, or spend it, so they can make their own personal connections with value and money.