Teaching Kids The 3 S’s of Money

Money we Spend, Money we Save & Money we Share

Wouldn’t it be great if your kids were guaranteed to live a life of financial peace of mind… without any of the stress, worry and headaches that come from personal finances out of control?

Well it would not only be great, it’s absolutely possible. If you start them down the right road now, before they become adults.

A smart place to start it teaching your kids all about “The 3 S’s” of personal finance:

– Money we Spend
– Money we Save
– Money we Share

Start out by educating them on how people earn money, and the value and fulfillment we get from working and having a career.

Then introduce them to The Money We Spend… the concept of “expenses.” All the things we have to spend money on each and every month that we can’t do without.

Also let them know there are a lot of other things they could spend money on, like candy, toys, TVs and other fun things. And why it’s smarter to resist the temptation to buy things you want that you really don’t need, than spend your last dollar on something foolish.

Next, it’s time for the conversation about The Money We Save. That even though it can be fun to spend money on whatever you want, you’ll get a much better feeling when you save. And know you have money in the bank for a time when you really need it for something important.

Then it’s absolutely necessary to educate them about The Money We Share. Introducing them to the concept that giving can be fun and rewarding at the same time. Because helping others in need is the right thing to do. That we enjoy so many blessings, it would be selfish to not share them with others.

Taking the time to talk to your kids about personal finances can save them from a life of debt, despair and hopelessness. And give you peace of mind that they are living a good life, free from money problems.

Once you’ve taken the steps to educate your children in how finances and money work, then there’s one more big way you can teach them how to be good with money…

Set a Good Example For Your Kids

That’s right. Your kids won’t have the respect and discipline they need about money, if you’re setting a bad example yourself. Hopefully this is strong motivation for you to take control of your finances, too.

If you’re not sure exactly what to tell them, just attend my online training class on personal finance called “Experiencing Financial Peace of Mind.

Register to attend online for free here.

Then take good notes on what I’ll share with you, and you’ll have all you need to steer your kids down the right financial path.

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Please share your comments and questions