5 Tips for Parents On How to Be Good Financial Role Models

By Jennifer Calonia
June 20, 2013

Everyone views smart financial practices differently, and what's an effective strategy for one parent doesn't necessarily work for another. While there's no official rulebook, consider these five ways parents can become better financial role models:


Take a hands-on approach. The earlier you can teach children about money, the better. Andrew Wang and his wife introduced the subject to their kids as soon as they started asking for things. “We have encouraged our preschool-aged children to touch money, identify different denominations of money, play with and count money,” says Wang, an investment adviser and father of three in Mendham, N.J. “By opening up the conversation early and keeping it going as kids grow, we hope to raise financially-savvy kids.”

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