How should we teach our kids about finances? First ask yourself, “How did I learn about money? What lessons were learned well? What lessons were missed?” If you’re married, ask your spouse. Then devise a plan and write it down! Here are some more tips:

1. The best lessons are learned through experience and hard work.
2. Better to make small errors now and learn, then make large errors later. Allow mistakes to happen and use them as a teaching tool.
3. Some kids are natural spenders and others are savers. Different personalities need different methods. Focus on what works. Focus on what motivates them.
4. Kids in 2016 aren’t learning some of the lessons that were common 30 years ago. They don’t have to be patient for information. They don’t need endurance for research. Try to look at life through their eyes and ask yourself, “What lessons (experiences) are my kids missing that I take for granted?”
5. If you have poor habits in an area, are their experiences your kids should have now to help them learn what you didn’t?

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