Kiplinger

4 Ways to Teach Your Children Financial Responsibility

Americans are facing a personal finance crisis. Almost 60% of all working age Americans have no retirement savings. And dealing with unexpected expenses can be a hardship for many families without savings. In fact, 4 in 10 adults could not cover a $400 emergency expense.

We need to make sure the next generation is better prepared, and that means helping children form healthy financial habits and relationships with money at a very young age.

The good 1,000 parents and found that over half (56%) believe children should start learning good financial habits when they are between 4 and 8 years old. Nearly half (49%) of parents also said their greatest difficulty talking to their kids about money is doing it in a way the kids would understand.

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