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[quote=Anonymous][quote=Anonymous]I grew up without any financial literacy (parents bought me pretty much anything I wanted, even paid my rent for quite a long time) and it really damaged me in the long run.

My oldest is almost 10, so I’ve started having her sit down with me every week when I do the budget so she can see how I track everything in the spreadsheet. I’m also opening up a HYsA for her so she can see the interest she earns every month as an incentive to save.

Every month the kids get “fun” money and when it’s gone, it’s gone. No toys, McDonald’s, etc until the next month. I’d rather they feel the pain of running out of money now than when they’re 20s/30s.

We also talk a lot about marketing and how it tricks people into buying things. I work in marketing so I’m able to point out a lot of that stuff.

The one thing I really wish my parents had taught me was how taxes, investing, debt, etc all work. I had zero idea until well into my 30s. It’s boring, but as my kids enter the teen years I plan on making them learn about all that boring stuff. [/quote]

This is what I was thinking about. Thanks for sharing your experience. [/quote]

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