Toddlers to Teens: Raising Financially Responsible Kids

As children get older, they may develop a more expensive taste for things. When they want to purchase or receive more expensive items, talk to them about why they would like that particular item and help them determine if there is a cheaper alternative. While shopping, discuss why you are choosing certain items, particularly when it comes to quality. Teach them how to research the items they want to buy and how to make informed decisions about the product.

Finally, a garage sale is a great opportunity for your child to learn a number of valuable lessons – while also making them clean their room! Explain how they can choose to sell gently used items they don’t use or want anymore. Teach them how to determine the value of their objects so they can price them fairly. Allow your kids to keep the money they earn from the sale of their items.

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