The Basic Financial Skills Every Child Needs to Master by the Age of 18

Learning how to manage money can start very early in a child's development. The reason so many families are in financial ruins is because they never truly understood how to make their money work for them. There are some basic principles that every child should learn as soon as they start receiving finanical gifts for birthdays, holidays, chores, or allowances. If you don't understand money take family financing courses at local community college, college internet courses, self-help books, or any church or community financial courses. Below are 10 things your child should start as early as 3-5 years old and master by 18 years old.

1. How to save;

2. How to keep track of money;

3. how to get paid what you're worth;

4. How to spend wisely;

5. How to talk about money;

6. How to invest;

7. How to live on a budget;

8. How to excercise an entrepreneurial spirit;

9. How to handle credit; and,

10. How to use money to change the world

* list above from "Raising Financially Fit Kids," by Joline Godfrey.

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