The Future

Teaching Children About Investing

Why is it important to use allowances to teach older kids proper financial management?

Family financial experts at suggest parents use an allowance—whether for work completed around the house or not—as a tool to teach older children the value of money because it will help prepare them for when they begin to work and earn much more money. As they get older, they will be better prepared for such necessary financial activities as opening a checking and/or savings account, and using credit or debit cards wisely.


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