Top 5 money lessons for kids as young as 5 years old investinyou (In partnership with acorns.)
. It doesn't have to be much and can be tied into chores around the house, such as household errands or cleaning his or her room.That will help them become a "much more prepared adult when they are 20, 21, 22," he added.
Henske said he did this with his daughter, who felt like "a million bucks" when she went up to the cash register and paid for the item herself. For example, one person he knows has a son who wanted an expensive baseball bat. The parents offered to buy the regular one, or they could give him that money instead and he could pay the difference for the higher-end product. In the end the boy learned a "wonderful lesson" and went about finding all sorts of ways to earn the money for his special bat, Boudewyn said.Introducing the concept of philanthropy young will give you a good opportunity to talk about money.
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