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How to Teach Your Child to Handle Money From an Early Age

Raise financially successful kids. Everything Your Child Needs to Know About Money. Make sure your kids don't miss out on these important lessons.

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Here are some tips that can be incorporated into the daily lives of families and that will make a big difference in the financial future of children

As important as health and education habits are the financial habits of a family. The way people handle their finances says a lot about their balance even in other areas, after all, economic life reflects much of the other social, professional and family aspects. This also means that it is from this financial culture that children will form their awareness of money, consumption, expenses, values and, above all, financial responsibility. Teaching children how to save money in order to achieve what they want will also help them to be self-confident and have a healthy financial life in the future.

Focus and sociability contribute to a child becoming a successful adult

Keeping focused is the main factor contributing to a child’s success in the future

You should remember the famous marshmallow test, conducted in the 1960s, to assess the self-control of children aged 7 to 9. They could choose between attacking the candy immediately or waiting for the researcher to return and gain two goodies. The result showed that those who could wait for the double reward had more success in adulthood. A new version of the research has just been conducted by Canadian scientists using data from 2,850 participants in a longitudinal study (conducted for a long period) with preschool children from Quebec (Canada). Later, they were tracked from 33 to 35 years.