Beyond the Piggy Bank: Building Financial Skills

After mindset and habits, it’s finally time to talk about skills. This is the final piece of the financial foundation you can build for your children to help them become financially savvy adults.

Financial skills are simply the specific knowledge and techniques used to put the positive mindset and habits into action. Teach them at any stage by involving your children in your daily financial life; just adjust the concepts to be age appropriate.

Here are 3 ideas you can use with kids when you’re grocery shopping:

1) Make a list before going to the store to reinforce planning how you’re going to spend money.

2) Show how you can comparison shop by looking at the prices on similar versions of the same product.

3) Let them pay at checkout to get familiar with different payment methods and how they’re used.

By making these lessons part of your regular routine, you’ll give your kids a powerful advantage in adulthood. For more age-specific ideas, check out the full article here.