A survey by the University of Melbourne How Australians feel about their finances and financial services providers  asked respondents about their biggest financial regrets. Top of the list was ‘not saving enough’, followed by ‘not investing enough’, ‘not planning enough’, ‘not learning about money’, and ‘spending beyond my means’.
When teaching your children to manage their money, you are helping your kids grow into financially savvy adults. Keep it simple – explain where your money comes from and how it is spent. Remember, children learn best from experience so they will probably follow your own example.
Teaching the basic money facts to your children when they are young will go a long way to setting them on the right path to financial success in later life.
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