10 Money Rules for Parents to Live By
Tips to help parents teach money lessons and be financial role models.
By Janet Bodnar, Editor
From Kiplinger's Personal Finance magazine, September 2008
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No. 1 Take advantage of day-to-day situations to talk to your children about money and answer their questions in an age-appropriate way.
No. 2 Go slow. Don't rush youngsters into things they're not ready for.
No. 3 Nothing you can tell kids about money is too basic. Small lessons make a big impact.
No. 4 Keep your system simple. If you can't manage it, your kids won't be able to, either.
No. 5 Focus on your top priority, whether it's budgeting, investing or giving to charity.
No. 6 Parents have power. Your children will listen to what you have to say.
No. 7 Trust your common sense and be consistent. Don't waffle.
No. 8 Keep your sense of humor. A smile lightens any tension.
No. 9 Don't buy your kids everything they ask for. And give them a reason for saying no.
No. 10 Know your children so that you can adapt the other rules to their abilities and interests.
Discuss