Help your children build money skills with the tips below broken down by ages!
🌟 For a young child, emphasize planning ahead: “Buying something with a credit card might not look like I’m spending money, but I am. I’m making a promise to pay my credit card bill later, and I have to keep my promise.”
🌟 For a school-age child, connect to your values: “Credit cards are convenient, and it’s important to use them wisely. My personal rule is to use cash for anything under $20, to make sure small things don’t add up to a big credit card bill.”
🌟 For a teenager, build research skills: “Let’s find an online calculator to see how much it costs to pay off a $1,000 credit card bill by paying the minimum balance each month.”