It’s never too early to start teaching your kids about money. The earlier you start, the better! Teaching kids about budgeting and savings is a great way to help them learn important life skills.
Beginning with a simple plan and talking about the aspects of saving, spending, giving, and tracking their money will be great foundational concepts for them to expand on.
Instilling saving habits into your kids at a young age creates a mindset that they will carry well into their futures and will leave them smarter financially than they would have been.
If they want a new video game but they also want another toy, you should have a discussion with them about which costs more and which one they would rather have.