One of the finest lessons you can teach your children about
money is to
do some form of work for it. Perhaps you can categorize
household tasks into different tiers: things you do so that
the household can carry on its day-to-day activities (like keeping a
clean room, taking out the trash, and making sure shoes and dirty
clothes are put in proper places), simple chores with a small pay out
(like vacuuming the house), and larger tasks to earn more money (mowing
the lawn, washing the car, sanitizing the bathroom.)
Also, after your children have earned their money, teach them
some away for long-term savings, short-term savings, spending,
investing, and giving.
Parents, what valuable money lessons do you teach your
Share your answers with the eSmart Tax Community.