Today, I'd like to talk about a very important aspect of parenting that often gets left in the shadows: teaching our children about money. It is essential to ensure that your children understand the value of money, how to earn it, save it, and spend it wisely. By teaching children about money, we lay the groundwork for their financial stability and security in the future. With this in mind, I'd like to share my top money skills to teach your children.

1. The Concept of Earning

The first money skill to teach your children is the concept of earning. Children need to understand that money is not merely dispensed from ATMs or parents' wallets, but it's earned through hard work and dedication. You can start by establishing a system where they earn money or rewards through chores or academic achievements. This will not only instill the concept of earning but also helps them understand the value of hard work.

2. Saving and Budgeting

The second critical skill is saving and budgeting. This skill is essential for your children's financial literacy journey. Teach them about the importance of a budget, how it can help manage money, and the crucial role of saving. Initiate them into the practice of saving by giving them a piggy bank or a savings account. Also, involve them in household budgeting activities so they understand the importance of living within means.