You can never start teaching your children about money too early. From a young age, they start observing the behaviours and attitudes of their parents. This makes it crucial for parents to be conscious of the values they are imparting to their children, especially when they make financial decisions and handle their money, including spending, saving and investing habits.
By making a conscious decision to impart good money habits to your children from an early age, you will be equipping them with financial nous and enabling them to practise using money to become responsible teenagers, youths and adults.
A good way to start would be to use everyday scenarios to build a sound financial grounding in your child. With Chinese New Year just around the corner, it is also a good time to inculcate good money habits in your children starting with all that Ang Bao money. Here are five ways how you can do it.