October 19, 2017

Best Gift For Kids This Season is a Lesson in Finances

According to this article, money is an abstract concept to kids until they’re in their early 20s. So when kids want expensive items, show them in a concrete way how much they actually cost.  One tip that stands out is to give kids cash and take them to the store to make buying choices themselves. Simply buying them luxury items like smart phones and UGG boots if it’s stretching the family’s finances actually does them a disservice.  Read more

Comments

  1. Great points! As a huge Dave Ramsey fan, I’m constantly talking to my kids about money. I’ve had family budget meetings with them, too, so they know how much my paychecks are, and where the money goes. I think kids need to know that!

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