Teach children to budget and prioritize spending from "summary" of The Opposite of Spoiled by Ron Lieber
Teaching children to budget and prioritize spending is one of the most important lessons parents can impart. By instilling these values early on, children can develop a healthy relationship with money and learn the importance of making thoughtful financial decisions. This concept goes beyond simply giving children an allowance - it involves actively involving them in the budgeting process and guiding them on how to allocate their funds. One way to teach children about budgeting is to set clear expectations for how they should manage their money. This could involve creating a budgeting system where children are responsible for allocating a portion of their allowance towards different categories such as saving, spending, and giving. By helping children understand the value of each dollar, parents can empower them to make informed choices about how to use their money...
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