- Set goals: Talking about saving for a summer vacation is a good place to start, but parents also need to explain the importance of setting long-term goals such as saving for a car, college, or even retirement.
- Leverage everyday "money situations": Interactions involving money, whether it's using coupons at the grocery store, balancing a checkbook or comparison shopping for a new television, are opportunities to teach kids valuable money lessons.
- Lead by example: The survey revealed that 95% of kids say they have learned the most about saving and spending money from their parents. When parents act as good financial role models, kids have a better chance of learning the right lessons.
Parents Are Turning Their Kids Into Spenders
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