Helping your Children develop good financial habits

It is the nature to children to learn from our example. By helping them to understand finances and working with them to develop good financial habits - you can lead your children toward a future of financial stability and prosperity. 

Check out this video from Pharmacist financial with some tips on teaching your kids good financial habits. 

 Click here for the chore chart referenced in the video.

In addition to the information in the video, below are some additional tips and tricks for helping your children learn financial habits. 

• Look into getting your child a bank account to help teach them money management skills
• Encourage older children to get a job
• Teach children the benefits of shopping around before making a purchase

There are also some things to avoid: 

• Don't avoid talking about money or making it taboo
• Fighting about money
• Not defining the difference between needs and wants

It's never too early or too late to start developing good financial habits. No matter what your children's future plans are for their life,  we can help you help them design a financial strategy. Regardless of whether your kids are are 5, 10, 15 or older, it’s important they develop their own path toward financial independence.