The Gift of Financial Literacy

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The following is a contribution from my good friend, Shannon at The Heavy Purse. If you’re interested in contributing to Frugal Rules, please consult our guidelines and contact us.

When I was thirteen, my father started giving me money lessons. He didn’t focus on how it worked, but instead helped me develop a good relationship with money. He taught me how our emotions drive our spending, so if I wasn’t careful my emotions, be it anger, fear, frustration or even happiness could leave me with an empty pocketbook and no money for the things that truly mattered to me.

His lessons changed how I viewed money and ultimately led me to became a Certified Financial Planner, so that I could help others build a positive relationship with their money. Financial literacy is my passion and I love what I do, but there are some troubling trends that concern me. We live in amazing times, yet our financial literacy continues to erode year-after-year.

  • 61% of adults surveyed in the National Financial Capability Study received a failing grade in 2012 versus 58% in 2009 according to CNBC.

I look at my daughters and their friends who want to conquer the world, but I know without a strong grasp of finances, the world might conquer them instead. There is great debate around who is responsible for teaching children about money.

Some say parents; some say schools. I say both. Parents are ultimately the best teacher, but so many are unaware they even need to talk to their kids about money or are too embarrassed by their own lack of financial knowledge. Even if kids start learning about personal finance in school, parents are not off the hook. Our kids are always observing us, including how we handle money. Some parents are unintentionally passing along poor money habits and beliefs to their kids.

This leads some to wonder who we should educate first: parents or kids? It’s a little bit like the chicken or egg debate—does it really matter who came first? Let’s educate both. What I don’t want is another generation of kids to grow up financially illiterate while we wait for their parents to get educated.

This cycle stops now. There is no reason why parents and children cannot learn about money together. In our family, we refer to our money as family money and often give the girls a voice in how we use it. This is something I strongly encourage you to do as well and suggest you start by setting family save, spend and share goals.

Save Family Money for What Matters Most


You can decide together or beforehand, but just make sure the goal is something the family will be excited to achieve and is obtainable. For us, this is often our family vacation. We announce our plans over a favorite meal, and then we talk about it, often.

Success Tip: This also becomes your answer when your kids get the “I wants”. Instead of saying “no,” remind them of the family save goal. For example, “I like that doll too. It’s really nice! But remember, we’re saving our money for our big trip to Disneyland, which is so important to me. Is it important to you too? Good. That’s why I’m choosing to use our family money to go to Disneyland with you over the toy. What ride should we go on first?” Essentially you’re eliminating any feelings of deprivation by refocusing their attention on the family goal.

Spend Family Money and Make Conscious Decisions


Here is where you really have a chance to flex those decision-making muscles as a family. Every day we spend money and sometimes without much thought. The real trick to handling money is making conscious decisions that honor your values and goals. One way we demonstrate this is through our entertainment budget.

I give the girls various options, with one choice using the entire budget and others of varying cost. To my surprise, they often choose the more inexpensive options, so they can do more things. But best of all—they understand that afterwards the money is gone and they don’t beg me or their Dad to spend money on other things.

Success Tip: Create a grocery challenge with the goal to lower your monthly bills and use the extra money for a fun family day (unless the money is better served going towards debt repayment). Have them help you plan meals and search for coupons and sales.

Share Family Money to Enrich Lives


At a recent event, I asked a group of children how their family shared their money. Absolute silence. Now, I know for a fact their parents are philanthropic, but clearly their kids were unaware of how their parents were sharing their time and money. Our girls are very aware of the various organizations we support and when appropriate, they help out too.

I want my daughters to not view sharing as something they ought to do, but something they LOVE to do. At first there was a little trepidation on their part, but I’m proud to say that today they are eager to share their money (and even their toys and clothes) with others.

Success Tip: If your kids are new to sharing, I would start with something tangible, rather than sending a check. Buy groceries together and deliver them to your local food shelf. See if they can even restock the shelves with the groceries you bought.

Wait … There’s Just One More Thing You Need to Do to Assess Your Financial Literacy


This should all seem easy and fun. And truthfully, learning about money is fun because you are ultimately figuring out the things that matter most to you and spending your money on those things, rather than keeping up with the Joneses and buying things you care little about.

However, there is one caveat. Before you leap into the fun part—dreaming about how you will use your money—you need to know how strong your financial foundation is to ensure it can withstand your goals and dreams. To get you started, I’ve included a Wellness Checklist to help put your financial house in order.

As parents, one of the most loving acts we can give our children is the gift of financial literacy. The ability to make smart money decisions will help them create the life they want and support their long-term financial well-being. They will now have the tools to truly conquer the world.


Shannon’s Bio: Shannon Ryan, CFP® is a Mom on a mission to help busy parents teach their children simple, value-based principles that guide their money decisions and support their long-term financial well-being.


Editor’s note: I love Shannon’s thoughts here, which is exactly why I asked her to guest post. I could not agree more that giving our children the gift of financial literacy is one of the most loving things we can do. If you have the time, please take a look at the Wellness Checklist Shannon included, it’s awesome!

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John is the founder of Frugal Rules, a dad, husband and veteran of the financial services industry whose writing has been featured in Forbes, CNBC, Yahoo Finance and more.

Passionate about helping people learn from his mistakes, John shares financial tools and tips to help you enjoy the freedom that comes from living frugally. One of his favorite tools is Personal Capital , which he used to plan for retirement and keep track of his finances in less than 15 minutes each month.

Another one of John's passions is helping people save $80 per month by axing their expensive cable subscriptions and replacing them with more affordable ones, like Hulu with Live TV.


  • DC @ Young Adult Money says:

    Great post Shannon! I love that you give your girls options for how they can spend the entertainment budget. Sounds like they are catching on early that choosing the inexpensive option can often be the best choice.

    • Shannon @ The Heavy Purse says:

      Thanks, DC! I think it’s so important for the girls to start learning how to make money decisions early. We make them every day, often unconsciously, and I want the girls to be mindful spenders and to figure out how to use whatever amount of money they have in the best way possible. Sometimes it”s the ability to do many things they want by choosing inexpensive activities while other times something is so special that it’s worth using the entire budget. And that’s life to me.

  • Moneycone says:

    If you are a new parent, the best gift you can give them is a piggy bank! Start early, show them the rewards of delayed gratification.

    • Shannon @ The Heavy Purse says:

      Starting early is key. And I know after the girls quenched their thirst for instant gratification a few times and later regretted their choices, they learned to slow down and think through their decisions. They do a great job truly determining whether something is worth their hard-earned money.

  • Laurie @thefrugalfarmer says:

    Full of wisdom as usual, Shannon. I love your thoughts on reminding the kids of the savings goals when they get the “I want”s. What a great way to help them choose not to spend, instead of just saying “no”.

    • Shannon @ The Heavy Purse says:

      You’re so kind, Laurie. ๐Ÿ™‚ I dislike the word, “no” because it’s an unsatisfactory to most kids – they want to know “why” and so we tell them “we can’t afford it”. Which may or may not be true – but even if it is – that sounds really scary to kids who can be very literal at times. Or it leaves them feeling deprived. I want to eliminate those emotions, which can manifest into chronic shopping when they are adults, by reminding them of how we’re using our family money. I can tell you that it works and only in the rarest cases our family goal wasn’t more important. So they walked away without feeling deprived or resorting to a nuclear meltdown in the middle of the store. Today, if the girls even get the “I wants”, I just turn to them and say, “Really, we’re going to do the I wants?” They laugh and then start debating whether the item is worthy of their own money and how to earn money to buy it if it is.

  • Margaret Polino Nicholas says:

    I know that schools should teach more. I was in banking for 28 years. Each year we went out to the schools and talked about banking and about checking and loans. Some high school children were illiterate about money.
    Great post. Thank you.

    • Shannon @ The Heavy Purse says:

      I agree, Margaret. I wish schools had financial education woven into their curriculum too. There are so opportunities where it fits in. It’s fabulous that your bank went into schools and talked to students about money. I wish more did. It’s so sad how many students are financially illiterate and the number keeps growing, which is really scary. We need turn that trend around.

  • pauline says:

    I like the idea of reminding them of the Disney trip when they want the doll, although with smaller kids it can be complicated to make them apprehend time and the difference in amount between a doll and a trip. My little brother is 15 and I remember he was always so understanding with the fact he couldn’t have this or that it was impressive. Great post Shannon!

    • Shannon @ The Heavy Purse says:

      My husband and I always had goals but we started bringing Lauren into the fold when she was around four. And you’re rightโ€“little kids don’t always have the greatest understanding of time, but they are also pretty forgetful! ๐Ÿ™‚ So once the toy is out of sight, out of mind in most instances. We also talk about our family goals often, several times a week at least. We also don’t just talk about them, but we’ll go online and look at pictures and discuss all the fun things we’ll do during our vacation. Even though the actual trip might be months away, we create a vivid enough of picture for the girls that it’s remains a top priority for them.

  • Matt Becker says:

    Great stuff here. I love the concept of involving the entire family in mapping out goals and in making day to day to decisions about how to spend. It removes the power struggle, keeps everyone on the same page, and exposes everyone in the family (parents too!) to different ways of thinking about money. It’s a win in every direction.

    • Shannon @ The Heavy Purse says:

      Thanks, Matt! You’re are spot-on and that’s exactly why we do it. Our family goals unite us and we work together to reach them. It is family money and the girls should have a say in how we use (with reason, of course!). One thing I’ve come to realize is that too few parents actively teach their kids how to run a household. They learn by osmosis, I guess. ๐Ÿ™‚ I want my girls to understand how their Mom and Dad think about money, fully comprehend want versus need and how we use our finite amount of money to give ourselves the best life possible by knowing what we want.

  • Jai Catalano says:

    I love that the kids are involved. It’s important to have them be part of the family process whether it be savings or chores.

    • Shannon @ The Heavy Purse says:

      Thank, Jai! I absolutely agree. Kids should be involved because that’s how they learn. Otherwise they only learn by observation, which doesn’t necessarily tell them the whole story or they may even misinterpret our actions. Many kids grew up feeling deprived because Mom and Dad always said “no” and they didn’t understand Mom and Dad were actually making good financial decisions for their family. So now, as parents, they always say “yes” and many succumb to significant debt.

  • Thomas says:

    Teaching them at an early age is such great words to read. In most families it would be great just to have them being taught at all. Sadly many families aren’t teaching the children good financial habits. Many of them meaning the parents don’t have the good habits to teach in the first place. I really enjoy how your family is doing what needs to be done and are sticking with it. You daughters are learning very well.

    • Shannon @ The Heavy Purse says:

      Thanks, Thomas! I believe my daughters are brilliant, but it’s fair to say that I also very biased. ๐Ÿ™‚ It’s true many parents aren’t teaching their children about money because they have no idea they should – no one ever taught them. And some parents own financial knowledge and/or situation may be poor and they feel they shouldn’t be the teacher. It’s for those reasons why I want schools to help take up the banner of financial education. There is a definitely a subset of parents who will step-up and get knowledgeable themselves once their kids start learning about finances in schools. I also strongly believe there is no reason why parents and kids can’t learn about money together, even the family financial situation is less than stellar. Some of our greatest learnings come from understanding our mistakes.

  • Kim@Eyesonthedollar says:

    If I’ve learned one things as a Mom, it’s that you can’t have the attitude of “Do as I say, not as I do.” If you want your kids to follow a certain path, you better be on it yourself. Thanks for including the Wellness Checklist. That’s a great resource.

    • Shannon @ The Heavy Purse says:

      Kids do call you out when they catch you acting in a way you taught them not to behave. The things we say are important, but the things we do carry more weight when it comes to money, in my opinion. It’s why I stress the importance of modeling good financial behavior – our kids are always watching. ๐Ÿ™‚ I’m glad you found the Wellness Checklist useful.

  • JC @ Passive-Income-Pursuit says:

    Starting early is important. You don’t need to go into complicated details but just sticking with simple things like saving for the trip or the entertainment budget. I really like that one and will have to file that away for when my wife and I have kids.

    @John – It says in the intro that we can guest pose on Frugal Rules, like vogueing? And if so do you want pictures or video?

    • JC @ Passive-Income-Pursuit says:

      Or do you mean all Titanic style? Don’t think I’d be in to that one.

    • Shannon @ The Heavy Purse says:

      I agree starting early makes a huge difference. My girls have been doing this as long as they can remember and it’s routine to them. Since the girls are young (9 and 7), we’ve kept things simple and fun. Now with my oldest, I’m starting to talk to her about more complicated things such as compound interest and budgeting.

  • Holly@ClubThrifty says:

    I love the advice to “make conscious decisions.” That’s what it’s all about really….stopping the waste and spending money on things that really matter.

    • Shannon @ The Heavy Purse says:

      You got it, Holly! Most of us make unconscious spending decisions based on an emotion we’re feeling – anger, frustration, boredom – which can wreak havoc on our finances and lives. I want my girls to see the joy or gift in money, but that can only happen if they use it on the things that really matter.

  • Mike@WeOnlyDoThisOnce says:

    All too true that the nuances of money were such taboo subjects with parents that there are shocking statistics about this topic. Thanks for highlighting it.

    • Shannon @ The Heavy Purse says:

      Money has been a taboo subject within families for far too long and I’m happy to help dispel the myth that it should remain taboo. We talk about money as family all the time and it’s brought us closer together. There are lots of shocking statistics about our lack of financial literacy and while they sometimes depress me – more often they motivate to push a little harder and make financial literacy a priority for families and schools. I’m grateful that you and Tony are out there helping the cause.

  • Adam @ Money Bulldog says:

    It’s so nice that you champion this cause Shannon, especially because it involves our children’s future well being. Nice post!

    • Shannon @ The Heavy Purse says:

      Thanks, Adam! Financial literacy has been my passion since I was a teenager and I feel very blessed to be in a position to help others. I don’t believe most parents understand how their children’s lack of financial literacy affects their long-term financial well-being. We do so much for our children but overlooking this piece is a huge mistake and detriment to our children.

  • Canadian Budget Binder says:

    Great post Shannon!
    I think it’s important for parents to talk to their children about what they do with their money especially when they are sharing it with others for a good cause. We often equate sharing or helping others with money but we don’t always have to receive payment for what we do or recognition. I also think giving your children options when it comes to the budget like you have with entertainment really does get the child thinking about what they want to do and spend the money on.

    • Shannon @ The Heavy Purse says:

      Thanks, Mr. CBB! I absolutely believe sharing – whether it be money, time and/or effort – enriches our lives. I am incredibly proud of how important sharing has become to my girls. It’s often one of the first goals they reach (they also set individual save, spend and share goals) and they share far more than 10% of the money they earn and receive within a year. I get such a kick when I talk to kids and see their eyes light up when they think of all the ways they can share their money.

      To me, it’s also very important that children learn how to make smart money decisions and to understand the consequences of their choices. Sometimes it’s hard for me to bite my tongue when I know there making a decision they might regret – but that’s how they learn too. ๐Ÿ™‚

  • Pretired Nick says:

    My kiddo is still a baby, but this is something we’re committed to do well. We’re already talking about ways to teach him this stuff without it turning into a nonstop, easy to ignore “lecture”. We’ll see what happens when he gets older!

    • Shannon @ The Heavy Purse says:

      It’s great that you’re already thinking about how you want to teach your son about money. And you’re absolutely right – you don’t want to turn into a lecture they ignore, but if you keep it fun and look for teachable moments within every day conversations, they will learn so much.

  • Cat Alford (@BudgetBlonde) says:

    Yay! I love Shannon! She has so many great ideas. I’m totally going to be using her tips when we have kids!

    • Shannon @ The Heavy Purse says:

      Thanks, Cat! You are too sweet! I’m honored to help parents and future-parents see the value in money conversations with their kids (or future kids) and even more importantly to take the fear out of these conversations. In fact, they should be a lot of fun!

  • Nick @ says:

    Great post Shannon! I love how you are raising your children and thank you for sharing your methods. I have a very strong desire to teach my children financial literacy as well, and your posts are always so helpful.

    • Shannon @ The Heavy Purse says:

      You’re very welcome, Nick! It gives me great joy to help parents raise financially literate children using my tried-and-true methods. I have no doubt that your adorable little girl will be the recipient of many wonderful money lessons from you and your wife. And it will be a tremendous thrill for you when those lessons start to pay off and your daughter becomes a pro at making smart money decisions.

  • anna says:

    Well written as always, Shannon. For the combined parent vs. school teaching about financial literacy, I volunteer at my friend’s high school during Senior Exhibition Day (I’m not sure if it’s everywhere, but seniors are required to make a presentation in front of community members and provide a senior portfolio in order to graduate). I noticed in the portfolio that there’s worksheets on understanding what credit scores are, why they’re important, etc. I think that’s the step in the right direction, though I agree parents should play the more pivotal role in cultivating a healthy relationship between their kids and money.

    • Shannon @ The Heavy Purse says:

      Thanks, Anna! I wish more schools did something like that as it is a step in the right direction. Most high school students graduate without knowing what a credit score even means. It’s always seemed strange to me that schools and parents put so much combined effort to helping their kids succeed in life, but without strong personal financial knowledge all their efforts might be moot.

  • Sean @ One Smart Dollar says:

    Live the wellness checklist. It hits on all of the important things that need to be reviewed by families.

    • Shannon @ The Heavy Purse says:

      Thanks, Sean! I probably could have made it 2 to 3 pages, but I wanted to hit on the big things without overwhelming people. If you’ve taken care of those things, you’re standing on pretty solid ground.

  • Girl Meets Debt says:

    Your girls are going to grow up to be a financially savvy woman like you Shannon – I just know it! Great post, with great tips!

    • Shannon @ The Heavy Purse says:

      Thank you, GMD! It’s is my greatest desire that my girls far exceed my own accomplishments and carry on the family tradition and teach their children (many, many years from now! LOL!) about money too.

  • Jacob @ Cash Cow Couple says:

    Always excellent, Shannon. It’s such an important topic and one that I’m also personally invested in. I may do research on the behavioral side of this post – why people who are financially literate are twice as likely to seek professional financial planning advice.

    Regardless, it starts at home.

    • Shannon @ The Heavy Purse says:

      Thank you, Jacob, my future CFP buddy! My two cents on why financially literate people seek professional advice is because they want the peace of mind of knowing that they haven’t let anything slip through the cracks. Almost all of my clients have had some sort of gap or opportunity they were missing. And for me personally, it’s because I’m tied too closely to my own plan and sometimes my emotions get in the way of my normally sound judgement. It’s why I have another advisor review my plan. They are not as emotionally invested in it or attached to specific outcomes the way I am so they can spot the things I cannot either see myself or do see but haven’t addressed myself until they challenge me. You often hear PF bloggers say nobody is invested in your money the way you are – which is true. It’s also true that your own emotions can sometimes be your worst enemy when it comes to money too.

      • John says:

        You bring up a great point Shannon. It is so hard to separate those emotions from investing, not to mention the fact that we’re often too close to the situation for our own good. True an advisor may not care as much about your money as you do – though the good ones will want to help you wade through all the possibilities. I think it takes a wise person to know that they can manage their own investments but need an objective voice to look at what they’re doing to make sure it really is maximizing their returns.

        • Shannon @ The Heavy Purse says:

          Spot-on, John! I care deeply for my clients and want them to achieve their goals and live the best life possible – but I still need to detach myself so I can provide them with a balanced perspective and see the forest through the trees. Something that can be terribly hard to do when you are very attached to a specific outcome.

  • Andrew@LivingRichCheaply says:

    Great topic. I think it is very important to raise financially literate kids, but it is so tough to do so nowadays. I see so many young kids with more expensive phones, tech gadgets, and clothes than I have…Inevitably, kids will compare themselves with other kids. If only more parents were financially literate themselves.
    My sister volunteers for an organization that teaches financial literacy to kids of all ages, pretty cool:

    • Shannon @ The Heavy Purse says:

      Thanks, Andrew! I am very familiar with Junior Achievement and am a huge supporter of them. I’ve had the privilege through them to speak to children and love what they do. Kids definitely do compare themselves to other kids, which can cause some feelings of deprivation, which is why I think it’s so important that we talk to kids about money. We have nice things, but I want the girls to be appreciative and grateful for those things, rather than feel entitled or better than someone who doesn’t have nice things or feel bad because someone else has nicer things. I want to build the mindset of it’s okay to want things (let’s face it – we all want things) but if it doesn’t fit your budget and you really, really want it, then save for it.

  • Lindsey @ Cents & Sensibility says:

    Hi Shannon & John!
    Shannon, I really appreciate your advice regarding discussing money as family money. I know I haven’t talk to my daughter enough about money and she has little or no idea about how we make our decisions. Lately she has started asking questions about money because there’s been more discussion about it (due to my recent love of PF blogs). I’ve responded to these a little defensively, telling her that she doesn’t need to worry about it because it’s handled.
    I think I’m missing great opportunities to have appropriate conversations about money with her – she’s sixteen and needs to be comfortable with money and learn how to make smart decisions about it.
    Thank you so much for sharing your smartness. ๐Ÿ™‚

    • Shannon @ The Heavy Purse says:

      Hi Lindsey, Many parents naturally get a little defensive when their kids bring up the subject in money. For most us – we grew up in homes where the topic was taboo, and it feels a bit threatening when our kids start asking questions. So don’t feel bad, but be grateful that your daughter is inquisitive and has a desire to learn about money and start talking to her. She’s going to be headed off to college or into a job in a couple of years, so you want to make sure she’s ready to make smart decisions on her own. You don’t have to make the first money conversations with her the big serious kind – like talking about debt. When you’re shopping, ask her opinion. For example, you need a new lamp, at the store discuss together the pros and cons of cheap versus expensive, how quality plays a role and the longevity of item, how it fits into your overall budget. Once you start talking money with your daughter – the hard part will be stopping. Just ask my girls. ๐Ÿ™‚

  • Greg@Thriftgenuity says:

    I will have to hang onto the tip of reminding my future kids about what we are saving for. Do you think I could convince them to want to save for investment properties and then work on them as fun ๐Ÿ™‚ ? Maybe not, but I think it definitely puts things in perspective, which is great.

    • Shannon @ The Heavy Purse says:

      LOL! Well, I think it’s all on how you position it. If saving for investment properties means you’ll have money in the future to travel or do something they want, then absolutely give it a try. ๐Ÿ™‚ We do talk to our girls about some of our other save goals that are investment related, so they are aware we save for other things beyond family fun. And with my oldest, we are started to talk about investing. I will also tell you that when my nephew was 10, he asked me if I would instead invest the money I would spend on his birthday and Christmas presents. He has a quite the little nest egg growing and it’s been a great learning experience for him to watch his investment go up and down (hey, I’m good, but I’m NOT that good ๐Ÿ™‚ )

  • The First Million is the Hardest says:

    Such an important topic. I know for a fact most of my money habits came from my parents, and the younger you can start to teach them the better chance you’ll have instilling good values in them before they succumb to peer pressure and wanting to have everything their friends do.

    • Shannon @ The Heavy Purse says:

      Absolutely! The younger they learn the more good money habits are just a way of life for them. It’s really great watching my girls discover things they want but instead of asking me to buy it for them (in fairness this does occur on occasion) they instead ask me for more ways for them to earn the money to buy the toy or whatever item caught their fancy themselves.

  • John@MoneyPrinciple says:

    It’s so important to teach kids about money. When I was young I always knew there wasn’t any so never asked. Our crisis helped a lot in fact that we are now much more aware of it but it’s taken a long time!

  • Shannon @ The Heavy Purse says:

    That’s a fantastic idea, Jenny! Being able to put a face to a cause – and even have a relationship with them – makes it so more real to the kids and increases their desire to share. Plus, I find my girls have a greater awareness and appreciation for all the things they do have as I’m sure your kids do too.

  • Shannon @ The Heavy Purse says:

    It is so important to teach kids about money. We make money decisions every day as adults, and it’s no wonder so many people make uninformed decisions because they have no idea how to handle their money. We only teach our children how to consume. We need to teach our kids how to think about their money and how to handle it, so they can be informed consumers.

  • Jim says:

    Great post Shannon, love the idea of “Family Money”! I am always looking for ways to introduce financial literacy to my daughter and you always have great ideas, love reading them, thanks!

    • Shannon @ The Heavy Purse says:

      Thank you, Jim! I appreciate your kind words. One of the best things about positioning money as “family money” is that girls understand that if we use our family on things we didn’t plan for – such as buying them every toy they want – that means we can’t do the things we planned. They are so much more amendable when they understand that I’m not really saying “no” but saying “yes” to using the money on our original intention that we agreed upon as a family. I want them to see goals our something we take very seriously.

  • SuburbanFinance says:

    Sounds like you are doing a great job with your kids. I like the idea of family money, too!

    • Shannon @ The Heavy Purse says:

      Thank you! I’m very proud of how much the girls have learned these past few years and how good they are at handling their money.

  • David Smith @ PBC says:

    This is a very edifying piece. It is really important for families to understand the value of their finances. The terminology that you used “financial literacy” is very appropriate. For one, saving family finances for something very useful is a practical thing to do. At the same time, children must be taught about the value of finances at an early age. Your decision to orient your kids about money matters is something worth emulating.

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