in #exchange3 months ago

📍Start with the basics
Just talk about money in your daily life. If you are shopping with children, you can discuss how you search for discounted items or compare options to save money.

🧢You can show how you pay your bills so that they know how much electricity, water, or internet costs. If you have debts, show them how you pay them off and share the lessons you've learned, such as how dangerous it is to accumulate a lot of debt on expensive credit cards.

👷‍♂️Teach them early money management by encouraging them to earn money, such as by doing chores around the house. One great idea is for them to split their money into three parts, spending a third on what they want, saving a third, and giving away a third.Introduce them to the stock market by explaining what stocks are and showing them the stocks of the companies whose services or products they use. For example, Activision $ATVI, Apple $AAPL, Coca-Cola $KO, McDonald's $MCD, Nike $NKE, Snap $SNAP, Walt Disney $DIS, Hasbro $HAS.

🧑‍💻You can create a demo portfolio for children to watch what happens to them from time to time. When a stock moves significantly, see if there are any news or reports that caused the movement. Ideally, your children will learn that not every stock will be a great investment.

You can even open a real brokerage account for a small amount. Children are likely to lose some of the money, so be sure to help them understand that not all investments work and that patience is required. image from the internet-