The biggest money mistake parents can make is not talking about it with their kids, says Karyn Hodgens, a mother, co-founder of Kidnexions, a website for children鈥檚 personal finance in Rocklin, Calif., and author of 鈥淩aised for Richness: Teaching Kids Money Skills for Life.鈥� 鈥淚t鈥檚 one of the most important things to teach our kids, so that they can become self-sufficient, responsible, and productive later on.鈥�
Parents don鈥檛 have to be financial experts to teach the basics: the importance of saving, budgeting and goal setting. Nor should parents ever forget that their actions, regarding money and everything else, serve as constant examples for their offspring.
