photo: robin taub
"pay yourself first!" — robin taub
ne of the most important money lesson to teach your kids is to “pay yourself first” which forces you to live within your means and save. Whenever any money comes in, whether from an allowance, cash gifts for holidays or birthdays, or money they earn, encourage your kids to take some off the top, put it into savings, and learn to live on less. Because habits, both good and bad, start early. With older children who may be getting a regular paycheque, take the self-discipline out of the process by automating their savings – setting up a regular, automatic transfer from a chequing to a savings account.
robin taub canada financial literacy consultant, speaker & author robintaub.com
Published on Oct 28, 2016
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