I want my kids to be money smart, but where do I start?
The first step to teaching kids to be money smart is to be a good financial role model.
We want to be able to lead by example. Our kids are watching and learning from us and they are aware of both our positive and negative behaviour around money. So in the guide, we talk about the 10 healthy habits of financial management -- knowing where you stand, the importance of saving, of tracking your spending, of setting aside money for emergencies -- those basic things that you can be doing to set your financial house in order and be a good role model.
Robin Taub is a Chartered Accountant, and author of the book “A Parent’s Guide to Raising Money-Smart Kids”.