Finances

The 5 Lessons Dads Must Teach Their Kids About Money

We teach our kids new things everyday -- from the importance of applying sunscreen to resolving conflicts. 

We teach our kids new things everyday -- from the importance of applying sunscreen to resolving conflicts. Parents always want what’s best for their children and teach them essential life skills to ensure they live happy and healthy lives. But what are you teaching them about money? Dads (and moms) play a key role in their children’s future financial health. This Father’s Day, we reflect on 5 lessons dads should teach their kids about money:


Invest in knowledge

Benjamin Franklin said that “An investment in knowledge pays the best interest.”

It’s no secret that most successful people are constantly reading and educating themselves on a daily basis. Knowledge will help you improve, make better decisions and make more money so don’t be afraid to invest in it.


Reflect on needs vs wants

Understanding the difference between the things we want and the things we actually need will help us make better financial decisions. Gaining that financial clarity will allow you to take control of your finances and spend without worrying.


Save and invest as early as possible

Teach your kid the importance of saving money, but don’t forget to teach them the power of investing it. Investing will make your money grow and generate dividends. Saving money gives you options, peace of mind and it makes it easier to accumulate additional savings.

Don’t spend more than what you make

This is a common one, but parents sometimes forget to walk the talk. Children are sponges and adopt their parents' financial habits and money mindset. Teaching your kids early on to live within their means is teaching them to be intentional about money and that is the true path to financial success.

Be an equal and honest partner with your spouse

Did you know that money is one of the main reasons couples fight? Communicating and understanding your partner’s financial habits is crucial for a healthy relationship. Being honest and on the same page when it comes to money with your spouse will ultimately lead to a stronger relationship.

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