Make sure to set your kids up with sound money skills

Maybe you’re not where you wanted to be financially.

- LESLEY-ANNE SCORGIE

That’s OK. You can still give your kids incredible money skills that they’ll have for a lifetime. Here’s how to get started.

Talk about the value of money starting from an early age Kids begin developing a sense of value as early as three years old. It often happens, as an example, at the grocery store while you’re comparing prices and chatting with them about why you’re choosing this type of apple variety over another, and you mention something about the price being better. When you pay, they see you make an exchange. If you take a list with you, which I recommend you do in an effort to save money, they’re picking up the early concept of planning ahead.

I know it’s tempting to complain really loudly about the cost of living, but do what you can to insert healthy, upbeat and positive conversation about basic money matters — shopping, saving, giving — every day as you go about your regular life. This will help form a positive association with money versus fear, sadness, comparisons or anger about not having enough of it.

As they get a bit older, have them assist you with smart shopping, making lists, circling good deals in the flyers and recognizing if something is/isn’t on sale. This step is so important because kids need to see how they have a hand in controlling what happens with money; financial empowerment.