What are the mistakes parents make when teaching children about money?

[Suba]

Although many experts recommend educating children from an early age or at least from the age of 5, many parents do not have adequate knowledge about financial literacy so they often make mistakes when teaching their children about money, so in your opinion, what are the mistakes parents make when educating their children about money?

 

[eLdavis]

I think one common mistakes they make is that they tend to give them money for anything and everything they want, without actually teaching them the importance of saving or managing.

 

[King Belieal]

One mistake my parents made was them telling me every time that college would help me secure a financial future. And it didn't happen.

 

[Nomad]

They sound too preachy. When you tell your child don't spend money, they will hardly understand what you are saying.

 

[Starmix]

Kids' minds are blank like a blank sheet of paper, so the parents must educate their kids about the importance of money; however, some parents do not have financial literacy, but they have the right disposition and ample experience with money. The parents can buy a piggy bank for their kids to learn the value of savings.

 

[Kross]

Some parents make the mistake of completely avoiding teaching financial education to their kids and hope kids just get to know.