Mandy Porter
Talking about money is high up on the list.
Doing so in a calm, relaxed way and making use of everyday opportunities to demonstrate healthy financial habits is important.
From a young age children witness how their parents interact with money, so demonstrating the value of money is vital.
Pay cash, not card
One way of demonstrating that money has value is to pay with cash when your children are around. Paying with a credit card sends the message that anything is available just by swiping a magic piece of plastic.
Have a conversation about items that you consider essential versus luxury or just-for-fun items. Explain that it is not good to spend more money than you earn and that if you want something, you need to save for it.