(Mass Appeal) – We continued our Securing Your Future series by speaking with wealth management adviser Amy Jamrog from the Jamorg Group about how to teach children about money.
Jamrog notes that it’s never too late to talk to kids about money, but starting when they are little is important. You can start with an allowance to learn the cost and value of things. When they are teens they will be able to support themselves when it comes to gas and car insurance – even cell phones.
Jamrog suggests taking children to a trip to the bank to deposit money and watching it grow. Also teach them to save for items they might want. Building upon these skills will hopefully help them become fiscally responsible in the future.