Teaching kids about the value of money is an important life lesson that can help them develop good financial habits in the long run. It's never too early to start teaching your kids about money and its value. In this episode, Melissa Fradenburg, AIF, ® shares three tips to help you get started. 

•  By helping teens understand the difference needs and wants, they can learn to prioritize their spending and make informed financial decisions. 
• Setting boundaries with spending but allowing your child to make decisions around money while the stakes are low.  Earning money, whether it's a job or an allowance is so important to developing good money making decisions in adulthood.
• If you want your kids to be financially responsible, then you need to be financially responsible too. Talk to your kids about how you manage your money, and let them see you make smart financial decisions. For example, if you are saving up for a big purchase, explain to your kids how you are budgeting your money to reach your goal.

Resources:

• Learn more about Pearl Planning.  
• Connect with Melissa Fradenburg, AIF, ®
• Listen to Episode 124: Teaching Children Financial Responsibility Through Chores. 
• Blog post from Pearl Planning, The Three Money Conversations to Have with Your Kids.
• Read article on Mistakes Parents Make When Teaching Kids About Money, by Warren Buffett.
• Listen to podcast Episode 87: How to Talk to Your Kids About Money with Jackie Fradenburg.
• Read the book

The previous presentation by PEARL PLANNING was intended for general information purposes only.  No portion of the presentation serves as the receipt of, or as a substitute for, personalized investment advice from PEARL PLANNING or any other investment professional of your choosing. Different types of investments involve varying degrees of risk, and it should not be assumed that future performance of any specific investment or investment strategy, or any non-investment related or planning services, discussion or content, will be profitable, be suitable for your portfolio or individual situation, or prove successful. Neither PEARL PLANNING’s investment adviser registration status, nor any amount of prior experience or success, should be construed that a certain level of results or satisfaction will be achieved if PEARL PLANNING is engaged, or continues to be engaged, to provide investment advisory services. PEARL PLANNING is neither a law firm nor accounting firm, and no portion of its services should be construed as legal or accounting advice. No portion of the video content should be construed by a client or prospective client as a guarantee that he/she will experience a certain level of results if PEARL PLANNING is engaged, or continues to be engaged, to provide investment advisory services. A copy of PEARL PLANNING’s current written disclosure Brochure discussing our advisory services and fees is available upon request or at https...