Teaching kids about money might seem unnecessary or intimidating, but children can grasp financial concepts as early as age 6 and form lasting money habits by age 7. Alexa von Tobel, a Harvard-trained investor, emphasises the importance of early financial literacy to ensure future financial well-being. She offers three main tips:
- Keep the tone neutral.
- Make it practical: relate money to everyday expenses to make it understandable.
- Make it Fun and Empowering: Use engaging methods like games and goal-setting to make saving and budgeting enjoyable.
Von Tobel’s new book, “Growing Up Powerful: Money Matters,” aims to provide financial lessons and advice for parents to discuss money effectively with their children.
