02-06-2024, 06:42 AM
Parents can instill financial responsibility in children by giving them an allowance to manage, teaching budgeting basics, and encouraging saving for goals. Involve kids in shopping decisions, explaining the value of money. Open a savings account and discuss concepts like interest. Set a good example of responsible spending and saving habits. Use real-life scenarios to explain financial concepts, making learning about money a practical and ongoing part of their upbringing.