I’m wondering how other Boglehead parents have taught their kids about money? Not the mechanics of it (quarters, dimes, dollars, etc) but about the importance of saving and setting aside for the future. What did you do with your kids that you felt was effective?
Our oldest is in early elementary school. Now that she is progressing with math, and now that she’s asking us to buy her things (some of which I don’t think are “essential”) I think it’s time to start teaching finance, and especially, the importance of not spending everything you have.
How did you help your children learn about money, and was it effective?