Harvard-trained expert shares 3 easy money tips for kids.

TLDR:

• Children can grasp money concepts as early as age 6 and form permanent money habits by age 7.
• Financial literacy is crucial for kids’ future well-being and parents should start teaching it early.

Speaking to a child about money may seem intimidating, but it is essential to start teaching financial literacy early on. Alexa von Tobel, founder of LearnVest and a Harvard University-trained investor, emphasizes the importance of discussing money with children in a matter-of-fact way. Von Tobel’s book, “Growing Up Powerful: Money Matters,” offers personal finance lessons for kids and advice for parents on how to talk about money.

Von Tobel stresses the necessity of empowering the next generation with financial knowledge, given the lack of personal finance education in most U.S. schools. She highlights three key pieces of advice for parents: maintaining a healthy tone when discussing money, keeping conversations practical, and making budgeting fun and empowering for kids. By creating positive associations with money early on, children can develop lifelong financial skills that can change their lives.