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Make It a Family Affair.
Our family called them ‘family conferences’ but when appropriate, include your kids at family meetings about budgeting and spending so they understand the value of a dollar. Most of the money we use currently is on a card, so they don’t see the green stuff when they go to Starbucks and purchase a $9 drink.
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Use Visual Aids.
Show them your online account and how you spend your money. It’s ok to have the latest and greatest iPhone, but only if you can afford it.
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Let Them Earn.
My first job was babysitting at 13. Teach them that the best job in the world is hard work.
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Keeping Up with the Joneses.
Reinforce not to compare yourself to your friends, because there will always be the haves and have nots.
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Cash is King.
Carry it or hide it, but it doesn’t mean you have to spend it. Emphasize the importance of savings, even if it’s a bit extra for emergencies.