Parents, you want what’s best for your children. So, at a very young age, you start instilling in them lessons that will last a lifetime.
For example, you know that giving them a steady diet of nutritious foods and teaching them good manners now will help them grow into healthy, well-adjusted adults later.
It’s no different with finances. Waiting until they’re grown and flown to teach them the importance of financial literacy is not the best policy. Rather, start teaching them the basics as soon as they’re old enough to know that they should deposit coins in their piggy bank — and not their mouths.1
A study from the University of Cambridge shows that by the age of 7, most children are able to grasp the value of money.2 And, by then, they’re already forming money habits and attitudes that will stick with them.