Teach Your Children These 5 Crucial Personal Finance Lessons

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By Josh Felber

One of the most important roles we play as parents is educating our kids about finances. It’s one lesson they likely won’t learn in school and that they shouldn’t have to learn as adults in the school of hard knocks.

The recent financial crisis underscored the need to teach children about personal finance. After all, the crisis was caused, at least in part, by people forgetting some simple lessons about money, including this one: “Don’t borrow more than you can repay.” You can help your kids avoid learning these lessons the hard way by teaching them to be smart about money while they are still young.

1. Money doesn’t grow on trees.

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