The Road to Responsible Spending: Teaching Your Kids About Money

Money, spending, and saving can be difficult concepts for children to understand and not all children are exposed to financial literacy in school. Combining tips and fun activities for every age, this infographic will help parents teach their children important lessons about money and personal finance. Parents aren't always sure when or how to start talking about money with their kids, but they can make learning about money fun. Moreover, also building a foundation for good financial skills that are vital to a child's successful future. At the ages of 3-5 parents should start preparing children to save money for purchases. Kids can understand patience and saving money versus spending. Furthermore, school-age children can begin to understand that money is finite and that it's important for your family to make smart financial choices. High school graduates from states that require personal finance education have higher savings rates and net worth. Source: http://www.comparecards.com/blog/infographics/teaching-your-kids-about-money/