As young as possible, kids should be taught on how to spend their money the right way.  This must start from the parents.  But according to the latest survey of the Canadian Institute of Chartered Accountants a big percentage of parents who have taught their children of financial responsibility think that they have not been successful.  It is because that most parents are not really financially literate.  Parents should set a good example to their children especially regarding money matters.  The local government are regularly providing seminars in different places to enlighten everyone particularly the parents about being financial literacy.

Excerpt:

“Although I consider myself financially literate, I sometimes question whether I’m doing enough to teach my kids about money management. A recent moment of doubt came during a trip to the toy store, where my 4-year-old daughter decided to blow all her spending money on dolls, rather than diversifying with some books and puzzles, or saving a bit for another day.”

Original article can be found at:

http://www.theglobeandmail.com/globe-investor/personal-finance/home-cents/finding-teachable-moments-for-the-money-talk-with-kids/article1907909/

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