By Linda Stern
WASHINGTON (Reuters) – The vast majority of parents say they are good financial role models for their children … but they may be kidding themselves. More parents teach their kids how to shop rather than how to save.
Here are some ways to be good role models for your kids and also to teach them the basics of money.
* Give them some. An allowance is crucial to a child’s ability to learn to manage money.
* Match savings.
* Make them work for it.
* Model good behavior.
* Talk about family choices.
* Increase their responsibilities as they get older.
Don’t worry about it all sinking in at once. Some kids are just more money oriented than others, just like adults.
