May 3, 2021

Raising Smart Spenders and Savers

Financial Literacy Financial Planning

Talking to kids about money can be awkward, but it's important. That's the takeaway from a recent T. Rowe Price survey, which showed that parents consider topics like death and politics easier to discuss with kids than saving for a goal. A full 85% wanted to avoid the issue by signing their kid up for a personal finance course.

Though a class might help - and your financial advisor can be a valuable teacher's aide - your kids are still taking cues from you.

"Parents are the number one influence on their children's financial behaviors," Beth Kobliner, author of "Make Your Kid a Money Genius," told Forbes. "It's up to us to raise a generation of mindful consumers, investors, savers, and givers."

Here we offer essential financial lessons to reach your kids at each age and stage.

Start the conversation

Whether your kid is seven or 17, they are ready to hear money talk from their parents and grandparents. After all, financial literacy is not just about dollars and cents. You're really showing them how to think for themselves, develop values, and make sound decisions. In the space of a few teachable moments, you can empower them to take control of their future - a worthy investment.