My #1 tip for parents (or grandparents!)

If you're a parent or even a grandparent, I believe it's your responsibility to teach the youngsters in your life about smart financial habits.

And I caught this excellent article with some top tips for parents.

It shares a lot of great advice, like being aware of your behavior (and the examples you set for your kids since they're always watching!) and not lecturing them about bad behavior.

It's all valuable advice.

But personally, I love teaching my kids through practical experience.

I like having them earn a little money doing extra jobs around the house.

Then, I teach them to save 10% for charity and 20% for themselves so only 70% becomes their money.

They can either spend or save up for something bigger.

My kids are big savers and decide many times they don't really need the cheap little toy or the video game "skin" because they'd rather put their money somewhere better.

That's advice a lot of adults don't even follow, so I believe these lessons are working!

Ultimately, you don't have to follow my advice or this article's advice, every parent should set their own rules for their kids, of course!

But I do strongly encourage everyone to start teaching their kids about money, and early!

It's amazing how much they learn how quickly. And before long, they could be making great decisions that most of us only wish we'd made as kids!

Happy trading,

Markay

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