Question
How does Jeannette Kaplun of Hispana Global recommend discussing money with children?
#Jeannette Kaplun#Hispana Global#discussing money#children
Answer
I recommend discussing money with children in a way that's age-appropriate and relevant to their daily lives. Here are some tips:
- Teach your child the importance of earning, saving, and then spending money.
- Explain the difference between wants and needs.
- Emphasize not spending money you don't have.
- Start teaching the value of money from a young age. You can use real-life examples, like asking your child to buy something with cash and bring back the change.
- Use games like Monopoly to teach about saving and basic money exchange rules.
- Use technology and apps to teach budgeting.
- Consider giving an allowance to older children to teach them responsibility.
- Teach the value of work by allowing them to earn money for extra chores.
Remember, the goal is not to create anxiety, but to gradually give them the information they need to be responsible with money.
