TFCU’s financial education team regularly visits with children and their parents about establishing good money habits. Here are just some of those quick tips parents can follow and share to help their child learn and make smart money choices.
- Start Early: Introduce the concept of money early on. Use simple language to explain that money is used to buy things.
- Save, Spend, Share: Teach the importance of allocating money for saving, spending, and sharing. Encourage a balance among these three categories.
- Set Goals: Help them set small savings goals for things they want. It could be a toy or a treat. This teaches patience and goal-setting.
- Earn and Learn: Introduce the concept of earning by giving them age appropriate chores. Connect the idea that work results in earning money.