If your child learns the value of a dollar early in life, she’ll turn her future income into wealth.
I’m a career financial planner and a mom, so money lessons were an important part of my kids’ upbringing. As I watch my adult children make money decisions today, I can see that they took the lessons to heart.
My son negotiated a $5,000 bump in salary after receiving his first job offer. As a result of that money move, he may make $600,000 more over his lifetime (according to a study by George Mason and Temple University). Another son saved all of his bonus money and bought himself a condo at age 27. He didn’t want his rent to pay for someone else’s mortgage.
Where do you start with your pre-teen, and what lessons should you teach them?