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July 24, 2019

Financial literacy 101: Teaching your children good money habits

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There are many ways to teach your children good money sense. You can fall back on stories of how you used to earn, save and spend money all those years ago. You can fill their heads with lessons on how important it is to be careful and wise with their money. However, the bottom line is that experience is the best teacher. The key is to have your children learn by doing. Here are some ways you can encourage your children to save and manage money.

  1. Get them interested in money early
  2. Open a savings account in their name
  3. Give regular allowance

The articles and opinions in this publication are for general information only and are not intended to provide tax or legal advice or recommendations for any particular situation or type of retirement plan. Nothing in this publication should be construed as legal or tax guidance, nor as the sole authority on any regulation, law, or ruling as it applies to a specific plan or situation. Plan sponsors should consult the plan’s legal counsel or tax advisor for advice regarding plan-specific issues.
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Get all the information in the attached document.