What happens when children and teens make a habit of saving money?
When we make a habit of saving money we can honestly predict our money will grow. We can also honestly predict: (1) we will be better prepared for emergencies; (2) we will be better positioned to make dreams come true; (3) we will be better prepared to help ourselves and others; (4) we will be better prepared to get what we want and need, when we want and need it; and (5) we will have more choices, freedom, independence and security. And if we don’t “get honest” with ourselves and make it a habit? As you can imagine, the opposite it true. If we fail to be honest with ourselves about our money habits and routinely exceed our budgets, spend more than we make, and carry credit debt, then it should not come as a surprise that we will have less freedom, more worries, more stress and more strain on relationships. What can parents do to help their children develop smart money habits? Walk the talk – part 1. I don’t know of anything that’s more honest or “powerful” (to use your word, Dr. Robyn
