Top 5 Things Your Kids Should Know About Money

No. 3: Financial responsibility

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Unfortunately, many parents nowadays are enablers. They’ll buy their children every little thing their hearts desires, without any restrictions. But this kind of behavior will not only spoil your kids, but it will also make the financially irresponsible. Instead of giving in every time your kid asks for something, approach the matter in a different way: tell them they can only pick one toy or video game per month and that they’ll only get it if they keep their grades up. In this way, your children will learn that they shouldn’t take anything for granted.