You as a parent typically don’t consciously choose one method over the other. Maybe your own parents never discussed money in front of you, and you saw it natural to do the exact same. On the other hand, if your parents were adamant about teaching you basic financial skills such as saving or earning from early on, you’ll probably want to do the same for your kids.
This conformity to one style of teaching over the other can be dangerous if you don’t consciously choose what you want to teach to your child.
Things are changing, and kids are being exposed especially to electronic money earlier and earlier. In today’s world with one click shopping and constant exposure to new products and services, kids are more aware about the existence of money and its potential to get them what they want. We all know that child that has swiped yes for some extra Candy Crush Gold, charging those extra 99 cents on a parent’s credit card each time they play.
That’s one element that’s changing the status quo. And it’s important to be cognizant of these changes and re-evaluate how you’re exposing your kids about money. There’s several reasons as to why it’s more important than ever to teach your child about money- let’s dive right in.