How To Raise Financially Savvy Kids - Part 2

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Here's how to give your kids the financial advice you wish you had growing up????????

Help them to understand financial responsibilities like budgeting, saving, and spending.

What do I mean by this?

I mean setting them up with a debit card so they can track their expenses.

I'd also suggest teaching them about opportunity cost by teaching them to recognize that buying something they want means giving up something else.

Getting your kids into the habit of earning and spending money allows them to be more careful with their choices.

In addition, teaching your kids about taxes and investments is a great way to show them how assets work.

For example, the more assets you have, the more expenses you can deduct from your taxable income, such as real estate property expenses.

Investments are also assets that grow your net worth over time.

Teach your kids the financial lessons you wish you had growing up to set them up for success.

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