Earlier this week, Flexo @ Consumerism Commentary published a guest post sent by me: Thoughts on Raising Money-Smart Kids. The post is a collection of my thoughts on the potential ways of conveying money concepts to kids. Here are some excerpts:
Don’t bias them. Some people may disagree with this, but it’s important not to bias kids in favor of (or against) cash or credit cards. Because, once they decide that a certain mode of payment is “evil,†they would be reluctant to learn more about how it works. If you want your kids to make informed decisions, instead of ignorant decisions, it’s important that they are knowledgeable about all possible choices.
Instead of reminding them directly like, “You have no idea how hard we work to provide you all these things,†tell your kids stories about poor children around the world and how some of them don’t have a proper house, a car, or a school. Raise some questions in their mind about why such differences exit between people.
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Thanks so much for supplying a guest post to Consumerism Commentary… your article was great and really contributed to the success of the entire week while I was “away.”
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