Do you remember when you first learned about saving money or when you applied for your very first credit card? What about the first time you balanced your checkbook? OK, now do you remember who taught you to do all of those things? Learning how to manage money is a childhood milestone that is right up there with losing a tooth or riding a bike for the first time.
Teaching your children about money is imperative as a parent, especially if you want to avoid shelling out cash for your child’s latest video game obsession or paying off their credit card well after they’ve reached adulthood.
You might be asking - when do I start? It depends on your child, but slowly sprinkling in financial lessons throughout childhood is a good way to ease into the discussion, (especially when they are very young), and to build good habits.
Here is an age-by-age guide to help you identify reasonable topics for each stage of your child’s financial development:
Early years - 5 and under
Elementary (hitting double digits) - 6-10 years old
Middle years - 11-14 years old
Teen years - 15-18 years old
College and early adulthood - 19-24 years old
25 and up:
Rockland Trust can help your family no matter what stage of saving or spending you’re in...
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Rockland Trust gives you a variety of services that help you use and manage your accounts, whenever and wherever you want.