Teach them not to run up credit card debt, especially during those vital first few years away from home when they are at university or starting their first job. Teach them the risk of taking out a big loan to buy a car that will only depreciate in value, and which they may well still be paying for long after the car has been consigned to the great scrapyard in the sky. The easiest way to teach your children about finance is to get them involved. Teach them the miracle of compound growth. Teach them how money invested Foolishly will grow, and how, when the growth is added in, that will also start to grow.
Children are amazing in their capacity to absorb and learn.
Teach them to save money. Investing for children should be fun, and they should be involved in making the decisions. A good place to start is here . Copyright 1998-2001, The Motley Fool Limited. All rights reserved.