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But at any age, kids reap lifelong benefits from financial education.
With back-to-school season starting, here are five reasons parents should have kidslearn how to manage their money.
That makes understanding the value of money crucial for sustaining an affordable standard of living and achieving financial goals.
Mindy Mercaldo, head of U.S.
Depending on their age, this can mean budgeting for a treat, or thinking throughcollege financial aid packages.
A piggy bank strategy can be great for these (young) kids, Mercaldo said.
Id argue that teaching kids to spend and save with physical dollars and coins is more important than ever.
It teaches them that money is real and not a digital abstraction to be treated casually.
This teaches children about the importance of budgeting and prioritizing.
Thats good news after years of a growth rate of1.9%in annual giving.
But its never too early to teach children the power of giving back to their communities.
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