You are a role model for your child.
- Let your children see you managing your family income and keeping financial records.
- Try to guide and supervise your children’s spending, rather than dictating to them how to spend their money.
- Be clear about money and spending rules. What items are OK to buy and which are not?
- Help them think through their choices.
- Allow them to learn from small mistakes.
- Praise them when they make good money decisions.
- Do not use money as a reward or punishment — nor to pay for regular family chores.