Steps to stop you passing bad money habits on to your kids


By Tom Anderson

People who have declared bankruptcy were more likely to have kids who do not save any money that they get, and spend cash as soon as they receive it and expect their parents to buy them what they want, according to a new survey from T. Rowe Price. That compared less favorably to the children of people who didn’t declare bankruptcy,

Fortunately, even if you have made financial mistakes in the past, you can set your children on a better path by taking these steps:

Regularly talk to your kids about money

The survey, which polled 1,014 parents of 8- to 14-year-olds and their children, found that people who discuss financial topics with their kids at least once a week were significantly more likely to have children who say they are smart about money.

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